Accountants Divide the Life of the Business into Arbitrary Time

question 20

Multiple Choice

Accountants divide the life of the business into arbitrary time periods of equal length:

• A)In order to prepare a balance sheet
• B)In order to calculate comparable profit results
• C)In order to prepare an income statement
• D)Because of the accounting entity assumption

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Definitions:

Child Birth

The process of delivering a baby from the uterus to the outside world, typically involving labor and delivery.

Ischial Spines

Bony projections on the ischium, part of the pelvis, which serve as attachment points for ligaments and muscles.

Hipbone

The hipbone, or coxal bone, is a large, flat bone that forms the upper and anterior part of the pelvic skeleton.

Femur

The thigh bone, which is the longest, heaviest, and strongest bone in the human body.