Question

Accounts are Normally prepared for
a) for one year
b) for one financial year
c) for one accounting year
d) for one calendar year​

Answer 1

Explanation:

Accounts are Normally prepared for

a) for one year ✔

b) for one financial year

c) for one accounting year

d) for one calendar year

Answer 2

Question:-

Accounts are Normally prepared for:

Answer:-

b) for one financial year

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Financial accounting is the reporting of transactions that have occurred during the financial period. A financial year can be any period. However, year-end financial statements are usually prepared for 12 months.

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