An accounting time period that is one year in length but does not begin on January 1 is referred to as

A) a fiscal year.
B) an interim period.
C) the time period assumption.
D) a reporting period.

Question

An accounting time period that is one year in length but does not begin on January 1 is referred to asA)  a fiscal year.B)  an interim period.C)  the time period assumption.D)  a reporting period.

Kaitlyn Menci · Accepted Answer

Final Answer : A, Explanation :  A fiscal year is a 12-month accounting period that does not necessarily coincide with the calendar year. It is used by businesses and organizations for budgeting and financial reporting purposes.

An accounting time period that is one year in length but does not begin on January 1 is referred to as

A) a fiscal year.
B) an interim period.
C) the time period assumption.
D) a reporting period.

Definitions

Learning Objectives

Learning Objectives

Related questions