Chapter 8, Problem 15P

In considering interim financial reporting, how does current U.S. GAAP require that such reporting be viewed?

  a.    As a special type of reporting that need not follow generally accepted accounting principles.

  b.    As useful only if activity is evenly spread throughout the year making estimates unnecessary.

  c.    As reporting for a basic accounting period.

  d.    As reporting for an integral part of an annual period.