Select the correct response for each of the following multiple-choice questions:

Answer multiplechoice questions , : : Shade (L.O. >) 1. The least common accounting period among the following is:

a, One month.

Two months.

Three months.

Twelve months.

The need for adjusting entries is based on:

The matching principle.

Source documents.

The cash basis of accounting.

Activity that has already been recorded in the proper accounts.