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goji.go goji.go
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9 years ago
A government college received a $2 million grant restricted to research on developing a process for synthesizing a stable triple helix. $500,000 of qualifying research costs were incurred during the year. The college should report:
A.   Grant revenues of $2 million.
B.   Grant revenues of $500,000 and a liability for unearned grant revenues of $1.5 million.
C.   Grant revenues of $500,000 and deferred inflows of $1.5 million.
D.   Unearned grant revenues of $2 million until the research is completed.
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Diesel
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f_zah1f_zah1
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9 years ago
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