An accounting time period that is one year in length but does not begin on January 1 is referred to as
A) a fiscal year.
B) an interim period.
C) the time period assumption.
D) a reporting period.

Question

Quizplus · Accepted Answer

A fiscal year is a 12-month accounting period that does not necessarily coincide with the calendar year. It is used by businesses and organizations for budgeting and financial reporting purposes.

An Accounting Time Period That Is One Year in Length