Which statement is true regarding accounting and time, Ask an Expert

Accounting

Which statement is true regarding accounting and time frames?

A. Companies with inventory must adopt the calendar year as a fiscal year.
B. Manufacturers are required to use the calendar year as their fiscal year.
C. Time frames are significant when performing adjusting entries.
D. Time frames do not matter when performing reversing entries.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9415446

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