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CIMAPRA19-F01-1 Exam - Topic 2 Question 1 Discussion

Which THREE of the following statements about government grants are INCORRECT?
A) A grant is recognised as revenue and B) Grants must not be deducted from the related expenses in financial statements and C) Capital grants relate to cash inflow and outflow
D) A compensatory grant should be recognised in statements when it is received, not when the expenses it applies to occurred
E) A grant is recognised only when there is reasonable assurance that the entity will comply with any conditions attached to the grant

CIMAPRA19-F01-1 Exam - Topic 2 Question 1 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 1
Topic #: 2
[All CIMAPRA19-F01-1 Questions]

Which THREE of the following statements about government grants are INCORRECT?

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Suggested Answer: A, B, C

by Sharee at May 09, 2022, 04:06 PM

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Lili
10 months ago
E makes sense, compliance is key for recognition!
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Veda
10 months ago
C is misleading; capital grants aren't just about cash flow.
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Ilda
11 months ago
Wait, are we sure about B? Seems off to me.
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Rosendo
11 months ago
Totally agree, A is definitely incorrect.
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Blossom
11 months ago
Grants are usually recognized as revenue, right?
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Olen
11 months ago
Hmm, I'm a bit unsure here. Should we notify the employees first before restricting access? I don't want to overlook any important steps.
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Natalie
11 months ago
This question seems straightforward, I think I can handle it.
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Willard
11 months ago
I feel like I encountered a similar question before, and we concluded that both can be loaded.
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