The accounting concept requiring that the profits of a business be determined at regular intervals throughout the life of the business is the: O periodicity concept O monetary unit concept O going concern concept business entity concept Financial accounting standards that define what constitutes acceptable accounting practice for financial reporting world wide are referred to as: O GAAP O IFRS O FASB OSFAS Which of the following is the ratio for calculating the current ratio? O Current Assets/Total Sales O Current Assets / Current Liabilities O Current Liabilities / Current Assets O Current Assets / Total Liabilities
