A Broad Principle That Requires Identifying the Activities of a Business

question 212

Multiple Choice

A broad principle that requires identifying the activities of a business with specific time periods such as months,quarters,or years is the:

• A)Operating cycle of a business.
• B)Time period assumption.
• C)Going-concern assumption.
• D)Expense recognition (matching)principle.
• E)Accrual basis of accounting.

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Definitions:

Benadryl

An over-the-counter medication known generically as diphenhydramine, used to relieve symptoms of allergy, hay fever, and the common cold.

Decimals

Numerical symbols used in the decimal number system to represent fractions of ten, fundamental in mathematics for expressing precise values.

Mixed Fraction

A whole number and a fraction combined into one “mixed” number.

Improper Fraction

A fraction where the numerator (the top number) is greater than or equal to the denominator (the bottom number).