Which of the following accounting terms assumes that a business's activities can be divided into small segments and that financial statements can be prepared for specific periods,such as a month,quarter,or year?
A) adjusting entry concept
B) economic entity concept
C) matching principle
D) time period concept

Question

Quizplus · Accepted Answer

The time period concept assumes that a business's activities can be divided into small segments and that financial statements can be prepared for specific periods, such as a month, quarter, or year. This concept allows for easier analysis of a company's financial performance over a certain period of time.

Which of the Following Accounting Terms Assumes That a Business's