Chapter 3, Problem 3DQ

To determine

Concept Introduction:

Accounting is the recording and reporting of transactions for a particular period of time. This time period is of 52 week or 12 month and is knows as a fiscal year. It is used for reporting of incomes and expenses or assets and liabilities.

To discuss:

The type of business that is most likely to select a fiscal year that corresponds to its natural year instead of the calendar year.