SFAS No. 33 required both constant dollar and current-cost-adjusted income.

Question

Quizplus · Accepted Answer

This is a true statement. SFAS No. 33, "Financial Reporting and Changing Prices: Accounting for Inflation," required companies to present both a constant dollar and current-cost-adjusted income in their financial statements. The purpose of this was to provide users with more complete information about the effects of inflation on a company's financial performance.

SFAS No 33 Required Both Constant Dollar and Current-Cost-Adjusted Income