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Ravi Kapoor posted an Question
April 29, 2021 • 20:00 pm
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30 points
30 points
- UGC NET
- Commerce
A97. with reference to inflation accounting, which of the following is not correct? a. inflation accounting is a term describing a range of a. accounting models
A97. With reference to Inflation accounting, which of the following is not correct? A. Inflation accounting is a term describing a range of accounting models. B. It is designed to correct problems arising from historical cost accounting in the presence of high inflation and hyperinflation. oide C. Inflation accounting is used in countries experiencing high inflation or hyperinflation. D. Inflation accounting is a fair value accounting.
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Rucha rajesh shingvekar Best Answer
So correct answer is option (d) Inflation accounting is not fair value accounting. Inflation accounting, also called price level accounting, is similar to converting financial statements into another currency using an exchange rate.
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Rucha rajesh shingvekar![best-answer]()
All other options are correct.