The Life of a Business Is Divided into Equal Periods

question 25

Multiple Choice

The life of a business is divided into equal periods to determine profit or loss for that period. What assumption/concept underlies this procedure?

• A) Historical cost
• B) Monetary
• C) Accounting period
• D) Accounting entity

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Definitions:

Informants

Individuals who provide useful information for research or investigation, often from within the context being studied.

Respondents

Individuals who participate in a survey or study by providing data or answering questions, crucial for gathering empirical evidence.

Researcher

An individual who conducts systematic investigation into a study area to establish facts or reach new conclusions.

Informants

Individuals who provide useful information or insights for research, often based on their personal experiences or knowledge about a particular community or topic.