Post Utme Igbinedion University 2018 Accounting Question 4

Practice objective / multiple choice question 4 from the 2018 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2018 Accounting Objective / Multiple Choice
Question 4 POST_UTME_IGBINEDION_UNIVERSITY • 2018 • ACCOUNTING • objective

A public sector organization receives a grant of ₦500,000 from the government. The grant is to be used for a specific project. What is the accounting treatment for the grant?

Answer Options

Correct Answer A. Recognized as revenue
B. Recognized as expense
C. Recognized as asset
D. Recognized as liability
Correct Answer
A
Correct Option:
Recognized as revenue

About This Question

This is Post Utme Igbinedion University 2018 Accounting Question 4. It is one of the objective questions from the 2018 Post Utme Igbinedion University Accounting examination.

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