When a Fiscal Year That Starts and Ends at the Time

question 47

Multiple Choice

When a fiscal year that starts and ends at the time the stock of merchandise is normally at its lowest level is selected, it is known as a(n)

• A) natural business year.
• B) calendar year.
• C) base year.
• D) accounting cycle.

---

Definitions:

Total Revenue

A company's aggregate income from product sales and service charges within a set timeframe.

Variable Costs

Expenditures that shift in accordance with the scale of output or level of production activities.

Total Revenue

The income that a company generates from its business activities, typically from the sale of goods and services before any expenses are deducted.

Break-Even Point

The juncture where a company's overall expenses match its total income, leading to neither a profit nor a loss.