The assumption that allows accountants to accept some inaccuracy,because of incomplete information about the future,in exchange for more timely reporting is:
A)conservatism.
B)time period.
C)business entity.
D)materiality.
E)realization.

Question

Quizplus · Accepted Answer

The time period assumption allows accountants to report financial information in shorter, regular intervals, accepting some inaccuracy due to incomplete future information for more timely reporting.

The Assumption That Allows Accountants to Accept Some Inaccuracy,because of Incomplete