Which of the following is not true regarding the time period postulate?
A)It results in an artificial segmentation of a continuing process.
B)It has led to accrual accounting.
C)It allows different accounting methods to be followed in interim periods.
D)It allows interim reports to include estimates of annual amounts.

Question

Quizplus · Accepted Answer

The time period postulate does not allow for different accounting methods to be followed in interim periods. Instead, it requires consistent accounting methods across reporting periods to ensure comparability of financial information.

Which of the Following Is Not True Regarding the Time