in hyperinflation economy current cost is considered as rigid and mislead users of information in...
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Accounting
in hyperinflation economy current cost is considered as rigid and mislead users of information in term of monetary unit.
Select one: True False
Balance sheet at 31,Dec,2019 has accounts receivable balance of $130,000 when CPI was 105. the CPI for the average of 2019 is 110 and at the end of year is 115. if the current purchasing power accounting is used. the value should be stated for the Cash as:
a. 136,190
b. 135,909
c. 130,000
d. 140,381
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