Goodhelp Inc. $($GI$)$ received a $$300,000$ grant from the Nova Scotia government on December $30,$ to assist with rising employment costs. GI is entitled to this grant if it employs a specific number of local employees during the following year, and management is certain that GI can meet this criterion. The grant was paid up front on December $30,$ and GI uses the gross method for accounting for government grants.$$

Which of the following accounts should GI credit when the grant is received, assuming that GI reports under IFRS?

Question $1$ options:

a$)$

Revenue

b$)$

Grant payable

c$)$

Deferred government grant

d$)$

Wages expense