Which of the following would be considered a fiscal year?
A) April 1, 20- to March 31, 20-
B) January 1, 20- to March 31, 20-
C) October 1, 20- to May 31, 20-
D) None of the answers listed

Question

Quizplus · Accepted Answer

A fiscal year is a 12-month accounting period that may or may not align with the calendar year. Option A represents a fiscal year since it spans 12 months beginning on April 1st and ending on March 31st of the following year.

Option B only covers three months, and option C spans over eight months, making both unsuitable for a fiscal year. Option D is not an answer as there is a valid choice for a fiscal year.

Which of the Following Would Be Considered a Fiscal Year