The Time Assumption That the Economic Life of a Business

question 47

Multiple Choice

The time assumption that the economic life of a business can be divided into artificial time periods is known as the

• A) time period assumption.
• B) accounting period assumption.
• C) timeliness assumption.
• D) expense recognition principle.

---

Definitions:

Increase In Forgetting

A rise in the inability to recall or recognize information that was once stored in the memory.

Motivated Forgetting

The subconscious or conscious act of pushing unpleasant thoughts, memories, or feelings out of conscious awareness.

Retrieval Cues

Stimuli or signals that can trigger the memory recall of previously learned information, aiding in the retrieval process from long-term memory.

Context Cues

Environmental or situational indicators that help individuals infer meaning, make predictions, or trigger certain responses or memories.