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What is periodicity assumption? Please explain this accounting concept and provide examples when possible. This discussion needs to be at least 300-400 words.
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Periodicity assumption
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What is periodicity assumption?
Periodicity assumption are accounting guidelines which are mostly used by
accountants in dividing up the activities which might be currently going on within the
business into periods of a year, month and week. Since financial statement or financial
reports from outside users requires their information about finance to be timely planned.
Though the currently running assumption may sometimes dictates how the firms should
be treated in a way that they ...
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