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)Going-concern principle.
C)Matching principle.
D)Accrual basis of accounting.
E)Timeliness principle.

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