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    5. Which of the following is time spann into which the total life of a business is divided for the purp

    Question

    Which of the following is time spann into which the

    total life of a business is divided for the purpose of preparing financial statements? 
    A Fiscal year Correct Answer Incorrect Answer
    B Calendar year Correct Answer Incorrect Answer
    C Accounting period Correct Answer Incorrect Answer
    D Accrual period Correct Answer Incorrect Answer

    Solution

    The correct answer is C

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