Please answer 16-20

16. What is the periodicity assumption? a Companies should recognize revenue in the accounting period in which services are performed b. Companies should match expenses with revenues c. The economic life of a business can be divided into artificial time periods d. The fiscal year should correspond with the calendar year. 17. Which principle dictates matching expenses with revenues in the period when the company generate those revenues. a. Expense recognition principle b. Historical cost principle c. Periodicity d. Revenue recognition principle 18. Customarily, a trial balance is prepared a. at the end of each day. b. after each journal entry is posted C. at the end of an accounting period. d. only at the inception of the business 19. In the accrual basis of accounting revenue is recorded only when cash is received, and expense is recorded only when cash is paid. True False 20. Cash-basis accounting is not in accordance with generally accepted accounting principles for publicly traded companies. True False