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How should Entity A recognize income

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Question - In 20x1, Entity A proposes an environmental clean-up project for a river. The government supports this project and gives Entity A a 1M monetary grant conditioned that the money will only be spent on the proposed project. The proposed project is expected to take about 2 years to complete. Entity A starts the clean-up project in 20x2. How should Entity A recognize income from the government grant?

Reference no: EM133029497

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