All of the following statements are true about inflation except
A) U.S.companies no longer present financial information adjusted for the effects of inflation.
B) in recent years,inflation has been more rampant in Latin America and South America than the rest of the world.
C) the FASB developed rules for companies in the United States to use to adjust for inflation.
D) the United States and Germany adjust their financial statements for inflation.
Correct Answer:
Verified
Q2: Which of the following countries do not
Q3: The state of economic development can affect
Q4: Regarding the valuation of operating assets,IFRS allow
Q5: U.S.GAAP requires companies to present a balance
Q6: The U.S.accounting standards are more principle-based than
Q7: Japan has a greater number of differences
Q8: While U.S.GAAP requires a complete set of
Q9: Ultimately,it will be the responsibility of the
Q10: Both U.S.GAAP and IFRS apply the lower-of-cost-or-market
Q11: Companies in Mexico have to begin using
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