Question Details

A government grant generally subsidizes a company by transferring resources to that company.




TRUE OR FALSE:
1.	When a company purchases land with the intention of developing it for a particular use, interest costs associated with those expenditures qualify for interest capitalization.

	2.	Assets purchased on long-term credit contracts should be recorded at the present value of the consideration exchanged.

	3.	Companies account for the exchange of non-monetary assets on the basis of the fair value of the asset given up or the fair value of the asset received.

	4.	When a company exchanges non-monetary assets and a loss results, the company recognizes the loss only if the exchange has commercial substance.

	5.	A government grant generally subsidizes a company by transferring resources to that company.




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