What Issue of Reporting Effects of Changing Prices Is Addressed

question 3

Multiple Choice

What issue of reporting effects of changing prices is addressed by IAS 29,issued by the International Accounting Standards Board in 1989?

• A)choice between current replacement cost and general purchasing power method
• B)making inflation-adjusted reporting optional or required
• C)specifying the European Central Bank as the official source of inflation rates in the European Union
• D)mandating inflation adjustment for primary financial statements of companies in hyperinflationary economies

---

Definitions:

Multiple Points

Various aspects or considerations related to a specific topic or argument.

Political Precedent

A decision made in politics that sets an example or standard for future actions or decisions.

Representative Assembly

A legislative body composed of members elected or appointed to act on behalf of a larger group or constituency in making laws and policies.

Jamestown Colonists

The first permanent English settlers in North America, who founded Jamestown, Virginia, in 1607.