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The time period assumption: Select one: a . Means that accounting information reflects a presumption that the business will continue operating instead of being closed
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.
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