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:

Leader's Approval

The endorsement, positive assessment, or support given by a leader to their subordinate or their decision.

Admire

To regard someone or something with respect, appreciation, or warm approval.

Legitimate Power

The authority and power wielded by an individual or entity as a result of their role or position within a hierarchy or organizational structure.

Valet Manager

A professional responsible for overseeing the operations of valet parking services, including managing staff, ensuring customer satisfaction, and maintaining parking efficiency.