Which accounting assumption assumes that all accounting information can be reported monthly or yearly?
A)Business entity assumption
B)Monetary unit assumption
C)Value assumption
D)Cost assumption
E)Time period assumption

Question

Quizplus · Accepted Answer

The time period assumption assumes that accounting information can be reported on a monthly or yearly basis, meaning that financial statements can be prepared for specific time periods such as a month, quarter, or year end. This assumption helps to provide meaningful and relevant information for decision making purposes.

Which Accounting Assumption Assumes That All Accounting Information Can Be