What is the time period assumption? (a) Revenue should be recognized in the accounting period in which

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What is the time period assumption?

(a) Revenue should be recognized in the accounting period in which it is earned.

(b) Expenses should be matched with revenues.

(c) The economic life of a business can be divided into artificial time periods.

(d) The fiscal year should correspond with the calendar year.

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471169192

1st Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 13, 2024 02:07 AM

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What is the time period assumption? (a) Revenue should be recognized in the accounting period in which

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Financial Accounting Tools For Business Decision Making

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