The Time Period Assumption Assumes That an Organization's Activities May

question 118

Multiple Choice

The time period assumption assumes that an organization's activities may be divided into specific reporting time periods including all of the following except:

• A) Months.
• B) Days.
• C) Fiscal years.
• D) Calendar years.
• E) Quarters.

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Definitions:

Berry

A type of simple fruit with seeds and pulp produced from the ovary of a single flower; the skin is often edible.

Imbibition

The absorption of water by a seed prior to germination.

Apical Dominance

The inhibition of axillary (lateral) buds by a shoot tip.

Determinate Growth

A growth pattern in plants and some animals in which growth stops after reaching a certain size or age.