Question
A company can report financial results each year each quarter or each month with the issuance of financial statements. Which underlying assumption is being highlighted
A company can report financial results each year each quarter or each month with the issuance of financial statements.
Which underlying assumption is being highlighted by this example:
a. monetary unit assumption
b. going concern concept
c. economic "entity" concept
d. periodicity assumption
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Correct answer d periodicity assumption Explanation The periodicity assumption states tha...Get Instant Access to Expert-Tailored Solutions
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
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