According to IAS 29 Financial Reporting in Hyperinflationary Economies, the term "hyper-inflationary" means:
A) an annual inflation rate of 50%.
B) an annual inflation rate of 100%.
C) a cumulative inflation rate of 100% over a 3-5 year period.
D) it does not establish an absolute rate which is deemed to be hyper-inflation.

Question

Quizplus · Accepted Answer

IAS 29 does not establish an absolute rate which is deemed to be hyper-inflation. Instead, it provides guidance on how to identify hyper-inflationary economies based on qualitative and quantitative factors.

According to IAS 29 Financial Reporting in Hyperinflationary Economies, the Term