A GOVT Grants and Disclosure of Government Assistance 271 d. prudence Aash basis On September 1, 20x1, Entity A, a private university, receives IM cash as government grant conditioned on the acquisition of computers to be used in Entity A's IT department. Entity A the computers are available for their intended use. Entity A Entity A starts recognizing income from the government pant? September 1, 20x1 November 1, 20x1 c. November 30, 20x1 d. December 31, 20x1 2 Monetary grants are measured at the amount of cash received the fair value of the amount receivable c nominal amount d. a or b, whichever is more appropriate According to PAS 20, government grants are presented in the financial statements using 1 a gross presentation. c. a orb b. a net presentation d. a functional presentation PROBLEM 2: FOR CLASSROOM DISCUSSION Measurement Non-monetary grants are measured at @ the fair value of the non-monetary asset. b. nominal amount. the amount of cash received or receivable. d. a orb Presentation De tre following information for the next three questions: On January 1, 20x1, Entity A received land with fair of P200,000 from the Salding government conditioned on the construction of a on the lot. Entity A started immediately the construction