Match the following terms with the appropriate definition.
-Any length of time that an organization's activities are divided into and reported by financial statements.
A)Adjusting entry
B)Unadjusted trial balance
C)Prepaid expenses
D)Natural business year
E)Accrued expenses
F)Adjusted trial balance
G)Report form balance sheet
H)Accounting period
I)Profit margin
J)Contra account

Question

Quizplus · Accepted Answer

The accounting period is the specific duration of time for which an organization's financial activities are reported and summarized in financial statements. This can be a fiscal year, a quarter, or any other set period decided by the organization.

Match the Following Terms with the Appropriate Definition