In order to provide timely information for decision-making the life of the business is divided into arbitrary time periods of equal length called:
A) business cycles.
B) accounting periods.
C) time periods.
D) operating cycles.

Question

Quizplus · Accepted Answer

The term used to describe the arbitrary time periods of equal length used for accounting purposes is accounting periods. These periods allow for the preparation of financial statements and other reports on a regular basis, providing timely information for decision-making. Business cycles refer to the fluctuation of economic activity over time, while time periods and operating cycles are more general terms not specifically related to accounting practices.

In Order to Provide Timely Information for Decision-Making the Life