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What amount recognized as loss resulting from the repayment

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Question 1: On January 01 2020, GG Company received a grant of P1, 500,000 from government to subsidize the tuition fees for a period of 5 years. On January 01, 2022, the entity violated certain conditions attached to the grant, and therefore had to repay fully such grant to the government. What amount should be recognized as loss resulting from the repayment of the grant in 2022?

Reference no: EM132563480

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