For Webster to understand how his company performed during calendar year 2018, he must begin with the firm's financial position on
A) January 1, 2018.
B) July 1, 2018.
C) September 30, 2017.
D) June 30, 2017.

Question

Quizplus · Accepted Answer

To properly assess the company's performance throughout the entire year, Webster must start with the beginning of the year's financial position. January 1, 2018, represents the first day of the calendar year and has no relevance to the previous year's results, making it the best choice for evaluating the company's performance in the current year.

For Webster to Understand How His Company Performed During Calendar