题目内容

The right side of a T-account is a(n):

A. Increase.
B. Account balance.
C. Decrease.
Debit.
E. Credit.

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The time period assumption assumes that an organization's activities can be divided into specific time periods such as months, quarters, or years.

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Interim financial statements report a company's business activities for a one-year period.

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A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the:

A. Time period assumption.
B. Operating cycle of a business.
C. Going-concern assumption.
D. Accrual basis of accounting.
Expense recognition (matching) principle.

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The accounting principle that requires revenue to be recorded when earned is the:

A. Expense recognition (matching) principle.
B. Going-concern assumption.
C. Time period assumption.
D. Accrual reporting principle.
E. Revenue recognition principle.

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The right side of a T-account is a(n):

A. Increase. B. Account balance. C. Decrease. Debit. E. Credit.

The time period assumption assumes that an organization's activities can be divided into specific time periods such as months, quarters, or years.

Interim financial statements report a company's business activities for a one-year period.

A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the:

The accounting principle that requires revenue to be recorded when earned is the:

A. Increase.
B. Account balance.
C. Decrease.
Debit.
E. Credit.