Which of the following is true? A. Companies can select any day except a holiday to end their fiscal year. B. Companies must end their fiscal year on March 31, June 30, September 30, or December 31. . The U.S. government will assign each company a fiscal year. D. Companies can choose to end their fiscal year on any date, usually during a low point in the business cycle .

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Which of the following is true? A. Companies can select any day except a holiday to end their fiscal year. B. Companies must end their fiscal year on March 31, June 30, September 30, or December 31. . The U.S. government will assign each company a fiscal year. D. Companies can choose to end their fiscal year on any date, usually during a low point in the business cycle .
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Ans. The determination of the end of a fiscal year is very important for accounting purposes. It also assists in presentation of the financial data of a company. 

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