What is the time period assumption? (a) Revenue should be recognized in the ac- counting period in

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What is the time period assumption?

(a) Revenue should be recognized in the ac- counting period in which it is earned.

(b) Expenses should be matched with revenues.

(c) The economic life of a business can be di- vided 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: 9780471691952

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

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Question Posted: Jul 24, 2024 03:05 AM

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What is the time period assumption? (a) Revenue should be recognized in the ac- counting period in

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Financial Accounting Tools For Business Decision Making

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