Western Company Has an Annual Reporting Period That Runs from July

question 170

Multiple Choice

Western Company has an annual reporting period that runs from July 1 through June 30.Based on this information,which of the following is a true statement?

• A)Western probably has little seasonal variation in their sales.
• B)Western has violated the time period principle.
• C)Western must prepare financial statements as of December 31 each year.
• D)Western has adopted a fiscal year.
• E)Western does not have an accountant.

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