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Points to be achieved: 1.00 IPSAS 10 'Financial Reporting in Hyperinflationary Economies' applies...

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Accounting

Points to be achieved: 1.00
IPSAS 10 'Financial Reporting in Hyperinflationary Economies' applies to the financial statements of any entity that reports in the currency of a hyperinflationary economy. The standard does not establish an absolute rate at which hyperinflation is deemed to occur. However, the standard gives indication of the economic characteristics which indicate hyperinflation. Which of the following characteristics might indicate a hyperinflationary econd according to IPSAS 10?
Please select the right answer.
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Cumulative inflation rate over three years is approaching or exceeds 100%
An annual average inflation rate for the last three years of 20% or more
x Interest rates of over 25% at the financial year end
A devaluation of the currency by 20% or more
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