A Broad Principle That Requires Identifying the Activities of a Business

question 212

Multiple Choice

A broad principle that requires identifying the activities of a business with specific time periods such as months,quarters,or years is the:

• A)Operating cycle of a business.
• B)Time period assumption.
• C)Going-concern assumption.
• D)Expense recognition (matching)principle.
• E)Accrual basis of accounting.

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Definitions:

Perceptual Vigilance

The tendency to notice and attend to relevant stimuli that align with one's needs, interests, or expectations.

Perceptual Selectivity

The process by which individuals select, categorize, and interpret stimuli from the environment based on their interests, background, and experiences.

Internal Messages

Communication within an organization intended for employees or members, focusing on policies, procedures, or official announcements.

Organization

An organization refers to a structured group of people with a specific purpose, goals, or mission, such as businesses, governmental bodies, or charitable groups.