Question

A year divided into four consecutive quarters consists of:

a) Fiscal year
b) Calendar year
c) Academic year
d) Financial year

Answer 1

A fiscal year is a year used for financial and budgeting purposes. It begins on October 1 and ends on September 30 the following year.

Step-by-step explanation:

The term 'fiscal year' refers to a year that is used for financial and budgeting purposes. It is the time period during which a government, organization, or individual manages their financial activities. The fiscal year in the United States begins on October 1 and ends on September 30 the following year. The federal budget is prepared for this fiscal year.

For example, if a budget is prepared for the fiscal year 2022, it would start on October 1, 2021, and end on September 30, 2022.