A(n) is a collection of investments, such as stocks, bonds, and real estate.
Chapter 3: Accouting Week 3 1. Exam moved to Monday, February 8, 2016 2. Adjusting The Accounts a. Timing issues i. Time Period Assumption 1. Accountants divide the economic life of a business into artificial time periods 2. Generally a month, a quarter, or a year 3. Also known as “Periodicity Assumption” ii. Fiscal and Calendar Years 1. Interim Periods a. Montly and quarterly time periods 2. Public companies must prepare both quarterly and annual financial statements 3. Fiscal Yea