Choose from the following list of terms and phrases to best complete the statements below.

A period of time consisting of any $12$ months is called a $q,$

The presumption that a company's business activities can be divided into periods, such as three$-$month quarters, is called the

$q,$ records revenues when services are provided and records expenses when incurred.

Financial reports covering a one$-$year period are kn

$5$ is the type of accounting that records revenues when cash is received, and records expenses when cash is paid.