Question

Accounting period must contain 10 months state true/false

Answer 1

Answer:

false

Explanation:

an an accounting period must contain 12 months.

Answer 2

False.

• The accounting period must contain 12 months or 1 year.
• The accounting periods can be one calendar year from 1st January to the 31st of December, or it can be a fiscal year with 12 successive months expiring on the last day of any month except for the last day of December.
• A calendar year starts in January and ends in December.
• A fiscal year is a year with 12 consecutive months which ends on the last day of any month except December.