Any Accounting Period of Twelve Months' Duration Is Usually Referred

question 50

Multiple Choice

Any accounting period of twelve months' duration is usually referred to as a(n)

• A) fiscal year.
• B) calendar year.
• C) physical year.
• D) operational year.

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Definitions:

Essential Core Functions

Fundamental activities or duties that are necessary for an organization or system to operate effectively and achieve its objectives.

Outsource

The practice of hiring third-party vendors to perform tasks, handle operations or provide services that are either difficult to manage or outside of a company's core competencies.

Support Functions

The various back-office activities and services that help an organization run smoothly, such as IT, HR, and finance.

Team Structure

The arrangement and organization of a group of individuals working together towards a common goal, defining roles, responsibilities, and the hierarchy.