The fiscal year of a business is usually determined by

A) the IRS.
B) a lottery.
C) the business.
D) the SEC.

Question

The fiscal year of a business is usually determined byA)  the IRS.B)  a lottery.C)  the business.D)  the SEC.

Alicia Martinez · Accepted Answer

Final Answer : C, Explanation :  The fiscal year of a business is usually determined by the business itself. It is typically a 12-month period that may or may not coincide with the calendar year. The choice is not A because the IRS may require businesses to choose a fiscal year that complies with specific tax rules. The choice is not B because a lottery is not a standard way of determining the fiscal year. The choice is not D because the SEC oversees financial reporting by publicly traded companies but does not dictate their fiscal year.

The fiscal year of a business is usually determined by

A) the IRS.
B) a lottery.
C) the business.
D) the SEC.

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