Fiscal Year and Fiscal Period Quiz

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Questions and Answers

How many fiscal periods are there to which General Ledger entries can be posted at UCI?

  • 10 fiscal periods
  • 15 fiscal periods (correct)
  • 20 fiscal periods
  • 12 fiscal periods

When does the fiscal year at UCI begin and end?

  • July 1 - June 30 (correct)
  • January 1 - December 31
  • June 1 - May 31
  • August 1 - July 31

How many working days after the month has ended are included in most fiscal periods at UCI?

  • 2 working days
  • 3 working days
  • 7 working days
  • 5 working days (correct)

When can a general error correction (GEC) be posted to the September Fiscal Period at UCI?

<p>As late as Oct. 6 (A)</p> Signup and view all the answers

How many special fiscal periods exist at UCI apart from the 12 regular months?

<p>3 special periods (A)</p> Signup and view all the answers

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Study Notes

Fiscal Periods at UCI

  • There are 14 fiscal periods in which General Ledger entries can be posted at UCI.
  • The fiscal year at UCI begins on July 1 and ends on June 30.
  • Most fiscal periods at UCI include 5 working days after the month has ended.
  • A General Error Correction (GEC) can be posted to the September Fiscal Period at UCI until October 7.
  • There are 2 special fiscal periods at UCI, in addition to the 12 regular months.

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