Final answer:
The correct answer is c. Resources acquired through government grants must be accounted for using the capital approach as per IFRS. This involves either setting up the grant as deferred income or deducting it from the asset's carrying amount on the balance sheet.
Step-by-step explanation:
The question pertains to the International Financial Reporting Standards (IFRS) and their requirements regarding the accounting of resources acquired through government grants. The correct answer is:
c. Resources acquired through government grants must be accounted for using the capital approach.
According to IFRS, there are two methods of accounting for government grants: the capital approach (also known as the 'non-monetary' approach) and the income approach. Under the capital approach, government grants related to assets are presented on the balance sheet by setting up the grant as deferred income or by deducting it from the carrying amount of the asset. The income approach, on the other hand, would involve recognizing the grant in profit or loss over the periods necessary to match them with the related costs for which they are intended to compensate.