The periodicity assumption assumes that: a. a transaction can only affect one period of time. b. estimates
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Question:
a. a transaction can only affect one period of time.
b. estimates should not be made if a transaction affects more than one time period.
c. adjustments to the enterprise's accounts can only be made in the time period when the business terminates its operations.
d. the economic life of a business can be divided into artificial time periods.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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