Which of the Following Statements About a Fiscal Year Is

question 38

Multiple Choice

Which of the following statements about a fiscal year is correct?

• A)Companies can choose to end their fiscal year on any date they feel is most relevant.
• B)Companies must end their fiscal year on March 31,June 30,September 30,or December 31.
• C)Companies can select any date except a holiday to end their fiscal year.
• D)Companies must end their fiscal year on December 31.

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Definitions:

Consent

Permission for something to happen or an agreement to do something.

Key Data Executive

A senior role focused on overseeing and managing an organization's data strategy, integrity, and analytics.

Compensate

To provide something, typically money, in recognition of loss, suffering, or damage incurred; to make amends.

Actuarial Insurance

The application of statistical and mathematical methods in the insurance industry to calculate risk and determine premiums.