A Fiscal Year That Ends When Business Activities Have Reached

question 45

True/False

A fiscal year that ends when business activities have reached their lowest point is called the natural business year.

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Definitions:

Special

Distinguished or different from what is ordinary or usual, often implying superiority or a specific purpose.

Bearer Paper

A negotiable instrument or document of title that confers entitlement to the holder or bearer, with no named payee.

Endorsement

The act of signing one's name on the back of a check or other negotiable instrument, or a public declaration of support for a person, product, or service.

Delivery

The act of transferring an item from the seller to the buyer, where the legal ownership is passed.