The time-period concept requires a company to report accounting information at regular intervals.

Name: The time-period concept requires a company to report accounting information at regular intervals.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The time-period concept is also known as the periodicity concept and it requires a company to report its financial information at regular intervals such as quarterly or annually. This helps stakeholders to evaluate the company's financial performance and make informed decisions.

The Time-Period Concept Requires a Company to Report Accounting Information