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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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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