(2) ¿Ehäi The time period assumption(2)* :states that(a) Revenues should be recognized inthe accounting period in which it isearned.(b) Expenses should be matched withrevenues.(c) The economic life of a businesscan be divided into artificial timeperiods.(d) The fiscal year should becorresponds with the calendar year.

Step 1 The length of an accounting period to be used for the preparation of financial statements…

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نقطتان )2( The time period assumption(2) * :states that

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 24MC: What is the impact on the accounting equation when a current months utility expense is paid? A. both...

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Question

(2) ¿Ehäi The time period assumption(2)
* :states that
(a) Revenues should be recognized in
the accounting period in which it is
earned.
(b) Expenses should be matched with
revenues.
(c) The economic life of a business
can be divided into artificial time
periods.
(d) The fiscal year should be
corresponds with the calendar year.

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