The Discrete View of Interim Reporting

question 47

Multiple Choice

The discrete view of interim reporting

• A) Holds that an interim period is a separate accounting period; thus, revenues and expenses should be treated as though they occurred only in one period.
• B) Holds that revenues and expenses should be allocated to the various interim periods.
• C) Holds that revenues and expenses should be reported as they occur.
• D) Holds that an interim period is an integral part of the annual reporting period.

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Definitions:

Mean

The arithmetic average of a set of values, calculated by adding all the numbers together and dividing by the count of values.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, showing how much the values differ from the mean.

Mean

The average of a set of numerical values, calculated as the sum of the values divided by the number of values.

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of quantities.