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:

Administrative Rule

Principles or regulations established in organizations, businesses, or governments for the purpose of directing and managing operations.

Biological Difference

Variations in physical and physiological characteristics between individuals or populations, often discussed in the context of gender, race, or species.

Projective Agency

The capacity of individuals to envisage future actions and goals influenced by their desires and aspirations, thereby shaping their future.

Decolonization

The process of deconstructing colonial ideologies, structures, and legacies, and reclaiming and valorizing indigenous cultures and knowledge systems.