A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the:
A. Expense recognition (matching) principle.
B. Time period assumption.
C. Operating cycle of a business.
D. Accrual basis of accounting.
E. Going-concern assumption.
Answer: B
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A company that manufactures small quantities of identifiable products will use a process costing system
Indicate whether the statement is true or false
A business case for ensuring the equal treatment of workers is associated with which of the following:
a. diversity management b. equal opportunities c. radical approaches d. legislative approaches
When filing their tax returns, almost all individuals use:
A. The cash receipts and disbursements method. B. The accrual method. C. The accounting method. D. The recognition method.
Select the correct ranking of the following securities in terms of increasing yield. (Assume that each bond has average quality within its class.)
A) Corporate bond, Municipal GO bond, Municipal revenue bond B) Municipal GO bond, Municipal revenue bond, Corporate bond C) Corporate bond, Municipal GO bond, Municipal Revenue bond D) Municipal revenue bond, Municipal GO bond, Corporate bond