Points to be achieved: $1\mathrm{.}00$

IPSAS $10$ 'Financial Reporting in Hyperinflationary Economies' applies to the financial statements of any entity that reports in the currency of a hyperinflationary economy. The standard does not establish an absolute rate at which hyperinflation is deemed to occur. However, the standard gives indication of the economic characteristics which indicate hyperinflation. Which of the following characteristics might indicate a hyperinflationary econd according to IPSAS $10?$

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Cumulative inflation rate over three years is approaching or exceeds $100\%$

An annual average inflation rate for the last three years of $20\%$ or more

$x$ Interest rates of over $25\%$ at the financial year end

A devaluation of the currency by $20\%$ or more