Select the correct response for each of the following multiple-choice questions 1. The least common accounting period

Question:

Select the correct response for each of the following multiple-choice questions 1. The least common accounting period among the following is:

a. One month.

b. Two months.

c. Three months.

d. Twelve months.

2. The need for adjusting entries is based on:

a. The matching principle.

b. Source documents.

c. The cash basis of accounting.

d. Activity that has already been recorded in the proper accounts.

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