Multiple Choice
A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the:
A) Operating cycle of a business.
B) Going-concern principle.
C) Matching principle.
D) Accrual basis of accounting.
E) Timeliness principle.
Correct Answer:
Verified
Correct Answer:
Verified
Q52: On December 31, 2015, the accountant for
Q53: The expense created by allocating the cost
Q53: Internal transactions often include cash payments.
Q54: A trial balance prepared before any adjustments
Q55: Accrued revenues<br>A)Are paid in advance.<br>B)Are also called
Q58: Adjusting entries are journal entries made at
Q59: Which of the following accounts is most
Q60: The timeliness principle assumes that an organization's
Q71: Adjusting entries are made after the preparation
Q94: Explain the difference between the book value