Question

What is a fiscal year?

Question 15 options:

12-month financial planning period that always coincides with the calendar year


12-month calendar reserved for the government


12-month financial planning period that cannot coincide with the calendar year


12-month financial planning period that may or may not coincide with the calendar year

Answer 1

Fiscal year is a 12 month calendar year reserved for the government.

Answer: Option B

Step-by-step explanation:

In the business concern, corporate company, government and individual followed fiscal year plans. Fiscal year cover the twelve months of the period and also it is divided as four quarters. Year is not calculated from the calendar year from Jan to Dec it is from Oct to Nov.

This calendar is used and adjustable for the administrators, executives, managers, partnerships and individuals, suitable for most companies, corporate, non-profit, public etc for corresponding the fiscal year.