A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the
A) Operating cycle of a business
B) Timeliness principle
C) Going-concern principle
D) Matching principle
E) Accrual basis of accounting

Question

Quizplus · Accepted Answer

The timeliness principle requires that financial information be reported to users promptly, which involves identifying activities with specific time periods.

A Broad Principle That Requires Identifying the Activities of a Business