Define the Term "Accounting Period

Essay

Define the term "accounting period." How does this term relate to the "matching concept" as it pertains to the income statement?.
a)Financial resources can be provided to a business by consumers.b)Resource owners are the businesses that transform resources into products that satisfy consumer desires.c)Labor resources include both the physical and intellectual labor of a business's employees.d)Businesses purchase their resources from resource owners.e)Consumers are the main providers of resources in any market.