1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alika [10]
2 years ago
14

Explain what the time period assumption means.

Business
1 answer:
Vsevolod [243]2 years ago
7 0

Time period assumption means that a corporation bases its financial reporting on the periods it chooses. It is an accounting method that allows businesses to present their earnings and balance sheets more positively than if they used one of the other methods.

The assumption time period principle is an accounting theory that states that a company's financial statements should be appropriate for a specified time period. the time period covered by the financial statement An income statement or a statement of cash flows. The balance sheet, on the other hand, is dated as of a certain date rather than a range of dates.

To learn more about assumption, click here.

brainly.com/question/14511295

#SPJ4

You might be interested in
Even though they might not be one of the big name hospitals, (or the oligopolies in the market) they have a successful lifetime
larisa [96]
<span>The debate about health-care reform, on both the Left and the Right, revolves almost entirely around changing the way we pay for health care. Progressives advocate government-run, single-payer monopsonies, whereas conservatives advocate consumer choice among private insurers.</span>
4 0
3 years ago
Tom Parkey has prepared the following list of statements about depreciation. Identify each statement as true or false.
kifflom [539]

Answer:

Explanation:

1) False. As depreciation is a process of cost allocation, not asset valuation.

2) True.

3) False. As the book value is different from market value and it can be more or less.

4) False. As depreciation applies only to building and equipment.

5) False. The correct statement ought to be depreciation does not apply to land because its usefulness and revenue-producing ability generally remain intact over time.

6) True.

7) False. Recognizing depreciation on assets results in an accumulation of cost for replacement of the asset.

8) True.

9) False. Accumulated depreciation is recorded in a balance sheet while depreciation expense is reported in the income statement.

10) False. As salvage value is the same as residual value, hence, it three factors affect the computation of depreciation.

7 0
4 years ago
If M = 6,000, P = 2, and Y = 12,000, what is velocity?
NARA [144]

Answer:

Velocity of money = 4

Explanation:

Given:

Money supply M = 6,000

Price level P = 2

Real GDP Y = 12,000

Find:

Velocity of money

Computation:

Velocity of money = [Price level x Real GDP] / Money supply

Velocity of money = [P x Y] / M

Velocity of money = [12,000 x 2] / 6,000

Velocity of money = [24,000] / 6,000

Velocity of money = 24 / 6

Velocity of money = 4

5 0
3 years ago
Problem 12-7A Prepare a Statement of Cash Flows [LO12-1, LO12-2]
brilliants [131]

Answer:Weaver Company

Comparative Balance Sheet

December 31, 2015 and 2014

2015 2014

 Assets    

 Cash $ 7     $ 11    

 Accounts receivable  308      230    

 

Explanation:

7 0
4 years ago
Discuss management skills involved in the engagement and motivation of personnel, and consider the intended impacts on workplace
rewona [7]

Answer:

Human Relations Management Theory

Explanation:

The Human Relations Management Theory believes that employees should be inspired, motivated and engaged in order to increase workplace productivity.

Below are management skills involved in engagements and motivation of personnel:

Effective Communication: Employers should have communications that are clear, concise , correct, and courteous

Creating A Culture Of Empathy: Employers can motivate employees by listening to them through open interactive employee engagement sessions.

7 0
3 years ago
Other questions:
  • Entrepreneurs are well compensated in a market economy if they provide high utility to consumers at a relatively low ______.
    14·1 answer
  • Magic Realm, Inc., has developed a new fantasy board game. The company sold 15,000 games last year at a selling price of $20 per
    13·1 answer
  • The customer may participate in the design​ of, and in the delivery​ of, services.
    6·1 answer
  • After documenting the client's prescribed internal control, the auditors will often perform a walk-through of each transaction c
    8·1 answer
  • Why do housing ads use abbreviations rather than standard english
    7·1 answer
  • The demand curve faced by a monopolistically competitive firm:
    10·1 answer
  • These mineral deposits can be found by plates boundaries because they brought to the surface through?
    7·1 answer
  • What is the incremental percentage paid on income taxes called?
    15·1 answer
  • The total dollar value of all assets owned by consumers in the economy less the dollar value of their liabilities is called cons
    10·1 answer
  • Performance improvement model at richmond university medical center is base on the acronym p.d.c.a. What do the letters stand fo
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!