Recognizes the usefulness of financial statements

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Reference no: EM13839622

Carlos Company's accountant makes the assumptions or performs the activities listed below.

Tell which of the following concepts of accrual accounting, most directly relates to each assumption or action:

(a) periodicity,

(b) continuity,

(d) revenue recognition,

(e) deferral, and (f) accrual.

1. Recognizes the usefulness of financial statements prepared on a monthly basis even though they are based on estimates.

2. Prepares an income statement that shows the revenues

Reference no: EM13839622

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