Which of the following is true? Group of answer choices A. Companies may choose to end their fiscal year on any date they feel is relevant. B. According to the law, companies must end their fiscal year on December 31. C. A company may choose not to have a fiscal year. D. Companies must choose to end their fiscal year on March 31, June 30, September 30 or December 31.
Which of the following is true? Group of answer choices A. Companies may choose to end their fiscal year on any date they feel is relevant. B. According to the law, companies must end their fiscal year on December 31. C. A company may choose not to have a fiscal year. D. Companies must choose to end their fiscal year on March 31, June 30, September 30 or December 31.
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 10DQ: Recent fiscal years for several well-known companies are as follows: Company Fiscal Year Ending J....
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Question
Which of the following is true?
Group of answer choices
A. Companies may choose to end their fiscal year on any date they feel is relevant.
B. According to the law, companies must end their fiscal year on December 31.
C. A company may choose not to have a fiscal year.
D. Companies must choose to end their fiscal year on March 31, June 30, September 30 or December 31.
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