The term "accounting period" is used to refer to the
A.
time span during which taxes are paid to the inland revenue board
B.
budget period, usually one year, relied on by the accountant
C.
time span, usually one year, covered by financial statement
D.
period within which debtors are expected to settle accounts
Correct Answer: Option C
Explanation
An accounting period definition is a period of time in which a company prepares its financial report. It could be yearly, bi-annually, monthly, weekly, or daily.
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