The time period assumption:

Select one:

a$.$ Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.

b$.$ Means that we can express transactions and events in monetary, or money, units.

c$.$ Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.

d$.$ Means that a business is accounted for separately from other business entities, including its owner.

e$.$ Prescribes that a company record the expenses it incurred to generate the revenue reported.