When You Begin a New Fiscal Period -

question 9

Multiple Choice

When you begin a new fiscal period -

• A)the fiscal end date is advanced by one quarter if the previous fiscal period was one quarter
• B)the fiscal end date must be advanced manually from the company information screen
• C)the fiscal end date assigned by the program must be accepted
• D)the fiscal end date is automatically advanced by one year

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Definitions:

Common Stock

Equity securities that represent ownership in a corporation, giving holders voting rights and a share in the company's profits via dividends.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often with predetermined dividends.

Debt Instrument

A written obligation to repay borrowed funds or debts under defined terms, such as bonds, notes, or mortgages.

Preemptive Rights

Privileges granted to existing shareholders to buy additional shares in the company before the shares are offered to the public, thereby protecting their ownership percentage.