Question: The 'time period assumption' implies: A . Financial information is presented for specific periods such as a month, quarter, or year. B . Transactions are

The 'time period assumption' implies:
A. Financial information is presented for specific periods such as a month, quarter, or year.
B. Transactions are recorded in the period when cash is received or paid.
C. Expenses should be matched with revenues in the period they are incurred.
D. The business will continue to operate for a foreseeable future.

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