A fiscal year
A) ordinarily begins on the first day of a month and ends on the last day of the following twelfth month
B) for a business is determined by the federal government
C) always begins on January 1 and ends on December 31 of the same year
D) should end at the height of the business's annual operating cycle

Question

Quizplus · Accepted Answer

A fiscal year can begin on any day of a month and ends on the last day of the following twelfth month. It doesn't have to be determined by the federal government and doesn't always start on January 1st and end on December 31st. The best choice is A.

A Fiscal Year