The Time Period Assumption

question 193

Multiple Choice

The time period assumption:

• A)Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
• B)Means that we can express transactions and events in monetary,or money,units.
• C)Presumes that the life of a company can be divided into time periods,such as months and years,and that useful reports can be prepared for those periods.
• D)Means that a business is accounted for separately from other business entities,including its owners.
• E)Prescribes that a company record the expenses it incurred to generate the revenue reported.

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Definitions:

Antipsychotic Drugs

Drugs used to treat psychotic symptoms such as delusions, hallucinations, and other bizarre behavior.

Group Therapy

Form of therapy or treatment during which a small group of clients with similar concerns meet together with a therapist to address their issues.

Social Support

The assistance and comfort provided by others that can help individuals cope with stress, challenges, and daily life.

Behavior Modification

The use of learning techniques to modify or change undesirable behavior and increase desirable behavior.