1. The time period assumption states that: a. revenue should be recognized in the accounting period in...
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1. The time period assumption states that:
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 arti¬
ficial time periods.
d. the fiscal year should correspond with the calendar year.
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Related Book For 
Financial Accounting
ISBN: 9780470128848
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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