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.

---

Definitions:

Commission On Accreditation Of Allied Health Education Programs

An organization responsible for accrediting educational programs in the allied health professions to ensure they meet specific quality standards.

Registered Medical Assistant

A healthcare professional certified to perform administrative and clinical tasks in support of physicians and other health practitioners in a variety of settings.

American Medical Technologists

An organization that certifies allied health professionals, such as medical technologists, laboratory professionals, and phlebotomists, ensuring they meet competency standards.

Formal Programs

Structured and often institution-based educational or training schemes designed to impart specific knowledge or skills.