Multiple Choice
Which of the following accounting terms assumes that a business's activities can be divided into small segments and financial statements can be prepared for specific periods, such as a month, quarter, or year?
A) adjusting entry concept
B) revenue recognition principle
C) matching principle
D) time period concept
Correct Answer:
Verified
Correct Answer:
Verified
Q57: Which of the following statements is true
Q58: The value of a depreciable asset at
Q59: Healthy Living, a diet magazine, collected $500,000
Q61: Duncan Services records prepaid expenses as expenses
Q65: On the first day of January, Patricia
Q66: A company received $5,000 for 100 one-year
Q69: If a company fails to make an
Q74: Financial statements are prepared from the balances
Q90: The accountant of Skyscrapers Architectural Services failed
Q160: The worksheet is NOT a journal,a ledger,or