How does FASB ASC 830, Foreign Currency Matters define a “highly inflationary economy?”
A. Inflation rate over 50% annually
B. Inflation rate over 10% annually
C. Cumulative three-year inflation over 26%
D. Cumulative three-year inflation over 100%
Answer:D
How does FASB ASC 830, Foreign Currency Matters define a “highly inflationary economy?”
A. Inflation rate over 50% annually B. Inflation rate over 10% annually C. Cumulative three-year inflation over 26% D. Cumulative three-year inflation over 100%