12- Which of the following statements is correct?
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Question

a-IAS PPE forbids the capitalization of any subsequent expenditure on an asset

b-IAS Impairment of assets applies to all assets including inventories and receivables

c-IAS Accounting for government grants and disclosure of government assistance allows grants related to assets to be presented in the statement of financial position as deferred income or as a deduction from the cost of the related assets

d-IFRS Leases always requires a lessee to recognize a right of the use asset in respect of a lease

Adeel ahmad · Answer

C. IAS 20 allows the treatment of GG either by reducing cost of asset or fixed asset at own cost and GG as a deferred income. And deferred income is considered as liability.

Muhammad Kassab CPA CMA CertIFR · Answer

I definitely agree with the answer C.

Still answer D is tricky,  I believe the right of use is used for operating lease,  while in the financing lease the asset is recorded under the leased asset category.

khalde dsoeld · Answer

But how about D? I think it is also right

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12- Which of the following statements is correct? .

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