The time period assumption presumes that an organ organization's activities can be divided into specific time periods such as a month, a three-month quarter, six-month interval or a year. True or False True

Question

The time period assumption presumes that an organ organization's activities can be divided into specific time periods such as a month, a three-month quarter, six-month interval or a year. True or False True

Answer 1

True.The time period assumption, also known as the periodicity assumption, presumes that an organization's activities can be divided into specific time periods such as a month, a three-month quarter, a six-month interval, or a year. This allows businesses to prepare financial statements and reports for these distinct periods, providing timely information to stakeholders.

Problemas

The time period assumption presumes that an organ organization's activities can be divided into specific time periods such as a month, a three-month quarter, six-month interval or a year. True or False True

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