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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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