The time period assumption states that:

(a) companies must wait until the calendar year is completed to prepare financial statements.
(b) companies use the fiscal year to report financial information.
(c) the economic life of a business can be divided into artificial time periods.
(d) companies record information in the time period in which the events occur.

(d) companies record information in the time period in which the events occur.

Explanation:

In accrual accounting information about transactions are recorded in the time period when the transaction occured. This helps business asses how well they are doing within a time period for example quarterly, monthly, yearly.

Let's say a revenue was earned this year or $40,000, it must be recorded as a transaction that occurred this year. It cannot be recorded against next year's record as that is not the period in which it occured.

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;