QUESTION 2: A private entity was awarded a concession arrangement for water services. The agreement stated that the private entity will construct the related network of assets to provide the water services to the public, and such assets will be owned by the grantor. The agreement also states that the private entity has a right to charge the public for the provision of the water services. How should the private entity 1. Account for the arrangement? 2. Present such existing assets in the financial statements? QUESTION 2: A private entity was awarded a concession arrangement for water services. The agreement stated that the private entity will construct the related network of assets to provide the water services to the public, and such assets will be owned by the grantor. The agreement also states that the private entity has a right to charge the public for the provision of the water services. How should the private entity 1. Account for the arrangement? 2. Present such existing assets in the financial statements