The Periodicity Assumption States That

question 40

Multiple Choice

The periodicity assumption states that:

• A)a transaction can only affect one period of time.
• B)estimates should not be made if a transaction affects more than one time period.
• C)adjustments to the enterprise's accounts can only be made in the time period when the business terminates its operations.
• D)the economic life of a business can be divided into artificial time periods.

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