Identify and State the Historical Significance of the Following

question 64

Short Answer

Identify and state the historical significance of the following:
-parity

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Definitions:

Fiscal Year

A twelve-month period used for calculating annual financial statements in businesses and other organizations, which may or may not align with the calendar year.

Natural Business Year

A fiscal year that ends when business activities have reached the lowest point in an annual operating cycle.

Assets

Resources owned by a company from which future economic benefits are expected to flow to the entity.

Business

An enterprise or corporation participating in business, industry, or professional pursuits.