Choose from the following list of terms and phrases to best complete the statements below. 1. The value of information is often linked to its 2 3 is the type of accounting that records revenues when products are delivered, and records expenses when incurred are accounting reports covering a one-year period. + 4. A period of time consisting of any 12 months is called a, Timeliness 5. The presumption that a company's business activities can be divided into periods, such as three-moth quarters, is called the, Accrual basis accounting Annual financial statements Fiscal year