The Time Period Covered by an Income and Expense Statement

question 89

Multiple Choice

The time period covered by an income and expense statement is usually

• A)a week or a month.
• B)a month or a quarter.
• C)a month or a year.
• D)one to two years.
• E)one to five years.

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Definitions:

Redox Reaction

A chemical reaction where the oxidation states of atoms are changed through the transfer of electrons.

Oxidation State

The measure of the degree of oxidation of an atom in a substance, indicating the number of electrons lost or gained by an atom.

Reaction

A chemical process in which substances interact to form new products typically characterized by a change in properties.

Oxidation State

A numerical value that signifies the total electrons an atom gains or sheds to establish a chemical bond with a different atom.