A consecutive, twelve-month accounting period is called a(n):
A)adjusted year.
B)fiscal year.
C)accounting year.
D)accrual year.

Question

Quizplus · Accepted Answer

A consecutive twelve-month accounting period is known as a fiscal year. The fiscal year may or may not coincide with the calendar year. Many firms or businesses use a fiscal year rather than the calendar year for financial and tax reporting purposes.

A Consecutive, Twelve-Month Accounting Period Is Called A(n)