Drop Zone Parachuting has decided to prepare its financial statements every three months. Which accounting assumption is it implementing?
A) Cost assumption
B) Accounting entity
C) Accounting period
D) Going concern assumption

Question

Quizplus · Accepted Answer

The company is implementing the accounting period assumption, which requires that financial statements be prepared at regular intervals, usually monthly, quarterly, or annually.

Drop Zone Parachuting Has Decided to Prepare Its Financial Statements