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Requiring results to be reported in years, quarters or months is the time period:
AAssumption
BAssignment
CAssessment
DAssortment
Answer & Solution
Correct answer: A. Assumption
1. Users cannot wait for the whole life of a business.
2. Results are cut into shorter useful spans.
3. That convention is the time period assumption.
_Source: OpenStax Principles of Financial Accounting, Chapter 4, The Adjustment Process._
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