The International Accounting Standards Board

question 17

Multiple Choice

The International Accounting Standards Board

• A) takes a particular stand on the type of inflation accounting that it wants firms to use.
• B) relies more on accounting for inflation than it does disclosure.
• C) requires that firms restate their financial statements for general purchasing power when they are operating in hyperinflationary economies.
• D) does not want firms to account for inflation, except in hyperinflationary countries.