Grant for Revenue expenditure

This topic has 3 replies, 2 voices, and was last updated 5 years ago by Stephen Widberg.

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March 5, 2021 at 8:09 pm #613632
aadil1234
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Sir if Grant is for revenue expenditure than should we record a liablity in the form of deffered income?
March 6, 2021 at 8:28 am #613697
Stephen Widberg
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Deferred income is fine. Important thing in the exam is that you use the words RECOGNISE LIABILITY.
March 7, 2021 at 6:26 am #613820
aadil1234
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Thank you sir 🙂
March 7, 2021 at 1:39 pm #613854
Stephen Widberg
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🙂
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