14.1 ………… is the acquisition cost of an asset.
14.2 Based on the current cost accounting method, assets are measured at the ………. amount paid to purchase the same or a related asset in an active market.
14.3 When people in an economy prefer to quote prices of goods or services in a relatively stable foreign currency, this is a sign of a ………. economy.
14.4 With respect to recognising gains, historical cost accounting is limited because it does not differentiate between …….. and ……..
14.5 If a reporting entity operates in a hyperinflationary economy, it is expected to ……… its financial statements using IAS ………
14.6 A reporting entity ….…. financial statements during hyperinflationary periods because the operating results (profit or loss) and statement of financial position based on historical cost accounting will be distorted.
14.7 Two components of a product’s selling price are ……. and …….
14.8 Prices change in the market due to the forces of …… and supply.
14.9 Capital maintenance can be influenced by inflation and …….
14.10 Using the real approach to financial capital maintenance, the opening entity is ……. by the general inflation rate.
Comments