Which of the following is the time-period concept?
A) The concept that ensures that information is reported at regular intervals
B) The concept that determines when to record revenues
C) The concept that determines when to record expenses
D) None of the above

Question

Quizplus · Accepted Answer

The time-period concept in accounting ensures that financial information is reported in regular, consistent intervals, allowing for the comparison of financial performance over different periods.

Which of the Following Is the Time-Period Concept