Which of the Following Cannot Be Selected as a Valid

question 28

Multiple Choice

Which of the following cannot be selected as a valid tax year end?

• A) December 31st
• B) January 31st
• C) The last Friday of the last week of June.
• D) December 15th
• E) A tax year can end on any of these days.

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Definitions:

Routine Pricing

A method where prices are set based on standard costs plus a fixed profit margin, commonly used in consistent market conditions.

Variable Costs

Costs that vary directly with the level of production or sales volume.

Period Cost

Costs that are expensed in the period in which they are incurred, not directly tied to production activities.

Fixed Selling Cost

Expenses that do not change with the level of goods or services sold, such as salaries of sales personnel and rent of the sales space.