Question

An annual reporting period consistin

twelve consecutive months is know
Multiple Choice
a. Fiscal year
b. Calendar year
c. Intens financial period
d. Natural business year
e. Seasonal year

Answer 1

The twelve consecutive month period known as an annual reporting period is referred to as a fiscal year, often utilized by businesses and governments for budgeting and reporting.

Step-by-step explanation:

An annual reporting period consisting of twelve consecutive months is known as a fiscal year. Unlike a calendar year, which aligns with the January to December timeline, a fiscal year can start and end at any point as long as it covers a full twelve-month period. This is common in businesses and governments; for example, the federal budget in the United States is prepared for a fiscal year, which begins on October 1 and ends on September 30 the following year.