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When an entity receives a government grant it is treated as: Select one: a. An asset for accounting purposes and is exempt income for taxation

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When an entity receives a government grant it is treated as: Select one: a. An asset for accounting purposes and is exempt income for taxation purposes. O b. A revenue for accounting purposes and taxable income when the cash is received for taxation purposes. Oc A revenue for accounting purposes and is exempt income for taxation purposes. O d. No difference for accounting purposes and taxation purposes

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