The Accounting Concept Requiring That the Profits of a Business

question 28

Multiple Choice

The accounting concept requiring that the profits of a business be determined at regular intervals throughout the life of the business is the:

• A)business entity concept
• B)going concern concept
• C)monetary unit concept
• D)periodicity concept

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Definitions:

Cisgender

A term describing individuals whose gender identity matches the sex they were assigned at birth.

Gender Identity

An individual’s personal sense of their own gender, which may or may not correspond with their birth sex.

Biological Sex

The classification of an individual as male or female based on their anatomy and reproductive system.

Androgynous

Exhibiting characteristics or qualities that are not conforming to traditional gender distinctions, but rather blending or having features of both genders.