Match the descriptions with their terms :
-The economic life of a business can be divided into artificial time periods
A) Accounting period concept
B) Cash basis
C) Revenue recognition principle
D) Prepaid expenses
E) Matching principle
F) Accrued revenues
G) Depreciation
H) Post-closing trial balance
I) Accrued expenses
J) Carrying amount

Question

Quizplus · Accepted Answer

The accounting period concept is the principle that allows the economic life of a business to be divided into artificial time periods for reporting purposes.

Match the Descriptions with Their Terms