Which of the Following Statements Concerning the Accounting Period Is

question 18

Multiple Choice

Which of the following statements concerning the accounting period is correct?

• A) The accounting period originates from the accounting equation.
• B) The accounting period must be at least 3 months long.
• C) The length of the accounting period varies with the needs of users.
• D) The length of the accounting period depends on which country the business is located in.

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Definitions:

Abscission

Process by which plant parts are shed.

Ethylene

A gaseous plant hormone that regulates a wide range of biological processes, including fruit ripening and leaf abscission.

Hormone

A biochemical produced by the body that oversees and adjusts the activities of select cells or organs.

Cytoplasmic Division

The process, also known as cytokinesis, by which a cell's cytoplasm divides, producing two daughter cells after nuclear division has occurred.