In the case of a nonmonetary grant, which of the following accounting treatments is prescribed by IAS20? (a) Record the asset at replacement cost and the grant at a nominal value. (b) Record the grant...

In the case of a nonmonetary grant, which of the following accounting treatments is prescribed by IAS20?

(a) Record the asset at replacement cost and the grant at a nominal value.

(b) Record the grant at a value estimated by management.

(c) Record both the grant and the asset at fair value of the nonmonetary asset.

(d) Record only the asset at fair value; do not recognize the fair value of the grant.