Define the term "accounting period." How does this term relate to the "matching concept" as it pertains to the income statement?
What will be an ideal response?
An accounting period is the span of time covered by the financial statements, normally one year; the span of time for which income is measured. The practice of pairing together on the income statement revenues and expenses that were incurred in the same accounting period is known as the matching concept.
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Profit margin = ________ divided by net sales.
Fill in the blank(s) with the appropriate word(s).
The confidence index indicates
A) stock investors ' perceptions of risk in the economy. B) bond investors ' perceptions of risk in the economy. C) consumers' perceptions of risk in the economy. D) investors' trust in financial advisors.
What represents an east/west measurement of position?
A. Latitude B. Longitude C. Estimated-time-en-route D. Estimated-time-of-arrival
In a criminal trial where the null hypothesis states that the defendant is innocent, a Type II error is made when:
a. a guilty defendant is found not guilty. b. an innocent person is found guilty. c. a guilty defendant is found guilty. d. an innocent person is found not guilty.