Asked by Dangerously Loved on May 04, 2024
Verified
Which of the following is not a common time period chosen by businesses as their accounting period?
A) Daily
B) Monthly
C) Quarterly
D) Annually
Accounting Period
A specific duration of time for which financial statements are prepared, often annually or quarterly.
- Distinguish the attributes and repercussions of diverse types of accounting periods.
Verified Answer
ME
Menna ElsaoudyMay 11, 2024
Final Answer :
A
Explanation :
While some businesses may track their finances on a daily basis, it is not a common accounting period choice. Most businesses choose to report financial information monthly, quarterly, or annually.
Learning Objectives
- Distinguish the attributes and repercussions of diverse types of accounting periods.
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