Question

Match the concepts of accrual accounting that follow with the appropriate assumptions or actions.
1. Assumes expenses should be assigned to the accounting period in which they are used to produce revenues
2. Assumes a business will last indefinitely
3. Assumes revenues are earned at a point in time
4. Assumes net income that is measured for a short period of time, such as one quarter
a. Periodicity
b. Continuity
c. Accrual accounting
d. Revenue recognition



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  • CreatedMarch 26, 2014
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