What is the periodicity assumption? - 14312

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yousafbhutta

yousafbhutta

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What is the periodicity assumption?

 

The economic life of a business can be divided into artificial time periods.

 

 

The fiscal year should correspond with the calendar year.

 

 

Companies should recognize revenue in the accounting period in which it is earned.

 

 

Companies should match expenses with revenues.

Solution Description

 

What is the periodicity assumption?