Which of the Following Statements Regarding Inflation and Accounting Is

question 20

Multiple Choice

Which of the following statements regarding inflation and accounting is false?

• A)The SEC requires U.S.companies to present supplemental financial information adjusted for the effects of inflation.
• B)Instability of the measuring unit that is the currency occurs in countries with rampant inflation.
• C)In some Latin American and South American countries,companies have been required to adjust their financial statements to take into account the effects of inflation.
• D)The FASB developed rules for companies in the United States to use to adjust for inflation.

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Definitions:

Emancipatory Subject

An individual or collective actor that seeks to achieve liberation from oppression or societal constraints, often within critical theory contexts.

Communism

A political and economic ideology advocating for a classless society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

Gender

Socially constructed roles, behaviors, expressions, and identities of girls, women, boys, men, and gender diverse people.

Emancipatory Subject

Refers to entities or groups endeavoring to free themselves from restricting conditions or regimes and achieve greater autonomy and rights.