All of the Following Statements Are True About Inflation Except

question 4

Multiple Choice

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.

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Definitions:

Intentional Tort

A civil wrong resulting from an intentional act committed on the person, property, or economic interest of another. Intentional torts include assault, battery, conversion, false imprisonment, intentional infliction of emotional distress, trespass to land, and trespass to chattels.

Physical Injury

Damage to a person's body as a result of an accident or violence, distinct from emotional or psychological harm.

Strict Liability

Liability in which responsibility for damages is imposed regardless of the existence of negligence. Also called liability without fault.

CD's

Certificates of Deposit, a savings certificate with a fixed maturity date, specified fixed interest rate and can be issued in any denomination aside from minimum investment requirements.