Question: Please please answer based on IAS 29 and refer the specific paragraph HYPE Ltd operates in a country declared to be in a state of

Please please answer based on IAS 29 and refer the specific

Please please answer based on IAS 29 and refer the specific paragraph

paragraph HYPE Ltd operates in a country declared to be in a

HYPE Ltd operates in a country declared to be in a state of hyperinflation in 2020. HYPE Ltd owns machinery purchased at the end of 2010 at CU1,000,000,000. Consumer price index on 31 December 2010 and 31 December 2020 are 4,310 and 25,400 , respectively. Required: Revalue the machinery for restatement as of 31 December 2020

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