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    • Question

      Which accounting principle requires that financial

      statements are prepared for a specific period? 
      A Going Concern Correct Answer Incorrect Answer
      B Matching Correct Answer Incorrect Answer
      C Periodicity Correct Answer Incorrect Answer
      D Accrual Correct Answer Incorrect Answer
      E Full Disclosure Correct Answer Incorrect Answer

      Solution

      Periodicity assumption means financial performance is reported over standard intervals, usually annually or quarterly. 

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