A list of concepts is provided below in the left column, with a description of the concept in the right column. There are more descriptions provided than concepts. Match the description of the concept to the concept. Concept Description 1. Calendaryear. 2. Time periodassumption. 3. Adjustingentries. 4. Interimperiods Accounting time period that is one year in length. Accountants divide the economic life of a business into artificial time periods. An accounting time period that starts on January 1 and end on December 31. Entries made at the end of an accounting period to ensure that companies follow the revenue recognition and expense recognition principles Efforts (expense) should be recognized results (revenues). Monthly and quarterly time periods