The Fiscal Year of a Business Is Usually Determined by

question 20

Multiple Choice

The fiscal year of a business is usually determined by

• A)a government agency.
• B)a lottery.
• C)the business.
• D)the IASB.

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Definitions:

Human Rights

Fundamental rights and freedoms that every person is entitled to regardless of nationality, sex, national or ethnic origin, race, religion, language, or any other status.

Quasi-contract Liability

Refers to the legal responsibility imposed by the court to prevent unjust enrichment when no actual contract exists between parties.

Implied Contract

A contract formed by the actions, behaviors, or circumstances of the parties involved, rather than by written or spoken agreement.

Promissory Estoppel

A legal principle preventing a party from retracting a promise made, when the other party has reasonably relied on that promise to their detriment.