Question

With respect to AS 12 (Accounting for Government

grants), which of the following statement is incorrect?

A This standards does not deal with government assistance other than in the form of government grants

B This standards does not deal with government participation in the ownership of the enterprise

C This standard deals with accounting for government grants. Government grants are sometimes called by other names such as subsidies, cash incentives, duty drawbacks, etc.

D This standard deal with the special problems arising in accounting for government grants in financial statements reflecting the effects of changing price or in supplementary information of a similar nature

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Coal India Management Trainee

Question

With respect to AS 12 (Accounting for Government

Solution

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