Accountants provide for inflation using which of the following accounting principles?
A)Going concern
B)Time period
C)Conservatism
D)Materiality
E)None of the answers are correct.

Question

Quizplus · Accepted Answer

Accountants do not typically adjust for inflation in financial reporting under most accounting frameworks, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). The principles listed (going concern, time period, conservatism, materiality) do not directly involve adjusting for inflation.

Accountants Provide for Inflation Using Which of the Following Accounting