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3 Briefly describe the historical-cost-constant purchasing power and current-cost models. How are they similar? How do they differ? (3 Marks) Question 4 What is a
3 Briefly describe the historical-cost-constant purchasing power and current-cost models. How are they similar? How do they differ? (3 Marks) Question 4 What is a gearing adjustment, and on what ideas is it based? (3 Marks) Question 5 How does accounting for foreign inflation differ from accounting for domestic inflation? (2 Marks)
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