presumes that an organization's activities can Choose. be divided into specific time periods A consists of any 12 consecutive months Choose. Financial reports covering a one-year period are know as Choose. records revenues when services are provided Choose. and records expenses when incurred.

presumes that an organization's activities can Choose. be divided into specific time periods A consists of any 12 consecutive months Choose. Financial reports covering a one-year period are know as Choose. records revenues when services are provided Choose. and records expenses when incurred.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

11. options are

Accrual based accounting
Time Period Assumption
Fiscal year
Annual Finanical statements

Match the statement with the best answer.
presumes that an organization's activities can
Choose.
be divided into specific time periods
A
consists of any 12 consecutive months
Choose.
Financial reports covering a one-year period are know as
Choose.
records revenues when services are provided
Choose.
and records expenses when incurred.

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