Which of the Following Accounting Terms Assumes That a Business's

question 197

Multiple Choice

Which of the following accounting terms assumes that a business's activities can be divided into small segments and that financial statements can be prepared for specific periods,such as a month,quarter,or year?

• A) adjusting entry concept
• B) economic entity concept
• C) matching principle
• D) time period concept

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Definitions:

Teaching and Learning

The interactive process between teacher and students where knowledge, skills, and values are imparted and acquired, respectively.

Adult Learning Cycle

A model describing the process through which adults learn, involving experience, reflection, conceptualization, and experimentation stages.

Hands-On Learner

A learner who understands and remembers information best through direct involvement and physical activity rather than passive learning.

Analytical Type

An individual who prefers to use logic and reasoning in their thinking process, often effective in problem-solving and data analysis.