Which of the Following Best Describes the Proper Accounting for Interim

Multiple Choice

Which of the following best describes the proper accounting for interim financial reports?

A) ​The interim period is viewed as an integral part of the annual accounting period.
B) ​The interim period is viewed as a distinct, independent accounting period.
C) ​Interim reports should include the same level of disclosure as annual reports.
D) ​Net income should be computed on the cash basis except for sales, cost of goods sold, and depreciation.