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Which Method of Accounting for Inflation Must Be Used Under

Question 11

Multiple Choice

Which method of accounting for inflation must be used under U.S.GAAP?


A) Current Replacement Cost method
B) General Purchasing Power method
C) Both Current Replacement Cost and General Purchasing Power methods must be used
D) Neither method must be used since inflation accounting is not required under U.S.GAAP.

Correct Answer:

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