The Length of Time Covered by a Set of Periodic

question 101

Multiple Choice

The length of time covered by a set of periodic financial statements, primarily a year for most companies, is referred to as the:

• A) Calendar year.
• B) Accounting period.
• C) Business cycle.
• D) Fiscal year.
• E) Natural business year.

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Definitions:

Novel Ideas

Original, innovative concepts that have not been thought of before.

Innovation

The introduction of something new, such as an idea, method, or device.

Job Design

The process of organizing tasks, duties, and responsibilities into a productive work unit to accomplish organizational goals.

Organizational Climate

The general atmosphere, culture, and morale felt by employees and the prevailing attitudes towards work and the company.