Which answer? Question: MCQ AccountingWhen should the periodicity assumption be modified?a) Never underany circumstancesb) Only for quarterly reportingc) During start-up phase of seasonal businessesd) For all small businesses

Explanation of Periodicity Assumption: The periodicity assumption is an accounting principle that…

Answered: Question: MCQ Accounting When should…

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Activities Required In Completing A Quality Audit

Section: Chapter Questions

Problem 65RSCQ

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Q025: Which accounting concept requires that financial statements reflect the assumption that the business will continue operating indefinitely? A) Economic Entity Assumption B) Going Concern Assumption C) Monetary Unit Assumption D) Periodicity Assumption
44. Subject :- Accounting
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Which of the following disclosures is not required for a change from average cost to FIFO? Select one: O a. The nature of the change in accounting policy O b. The amount of the adjustment relating to periods before those presented O c. All of these are required. O d. Basic and diluted earnings per share for the current period and each prior period presented

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Question: MCQ Accounting When should the periodicity assumption be modified? a) Never under any circumstances b) Only for quarterly reporting c) During start-up phase of seasonal businesses d) For all small businesses