Which of the following statements is TRUE regarding the use of approximation when accounting for an entity that is located in a hyperinflationary economy? It is appropriate to use some level of approximation provided that the procedures and judgments are applied consistently from period to period It is never appropriate to use approximate figures when dealing with a hyperinflationary economy It is appropriate to use any level of approximation in calculation of cumulative rate of inflation for determining whether an economy is hyperinflationary It is appropriate to use approximation when the use simplifies the work to be done