It is now $31$ March $209,$ and the German customer settles the bill with

the UK company, on which the exchange rate is $1\mathrm{.}50=1.$ What is the

exchange gain or loss arising from this settlement that is recognized in

profit or loss in the year ended $209?$

$8,000$ gain

$10,000$ loss

$10,000$ gain

$8,000$ loss

A manufacturing entity received a grant of $$1$ million towards the

$4$ points

purchase of a machine on $1$ January $2020.$ The grant will be repayable if

the entity sells the asset within $4$ years, on which the entity does not

intend to sell. The asset has a useful life of $5$ years. What is the deferred

income liability balance as at $30$ June $2020?$

$$100,000$

$$200,000$

$$250,000$

$$900,000$