A) A fiscal year is a 12-month period that ends on December 31, while a calendar year is a 12-month period that can end on any day of the year
B) A fiscal year is a 12-month period that can end on any day of the year, while a calendar year is a 12-month period that ends on December 31
C) A fiscal year and a calendar year both refer to the same 12-month period
D) A fiscal year and a calendar year have different numbers of months
Answer: A) A fiscal year is a 12-month period that ends on December 31, while a calendar year is a 12-month period that can end on any day of the year