The term “accounting period” is used to refer to the
- time span during which taxes are paid to the inland revenue board
- budget period, usually one year, relied on by the accountant
-
time span, usually one year, covered by financial statement
- period within which debtors are expected to settle accounts
The correct answer is: 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.