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Fiscal Year and Fiscal Period Quiz
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Fiscal Year and Fiscal Period Quiz

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Questions and Answers

When does the fiscal year at UCI begin and end?

  • June 1 to July 30
  • July 1 to June 30 (correct)
  • April 1 to March 31
  • January 1 to December 31
  • What are the special fiscal periods at UCI?

  • Period 12 and Period 13
  • Special Fiscal Period 1 and Special Fiscal Period 2
  • Beginning Balances (BB) and C&G Beginning Balances (CB) (correct)
  • End of Year (EOY) and Beginning of Year (BOY)
  • How many fiscal periods are there for General Ledger entries at UCI?

  • 18
  • 12
  • 10
  • 15 (correct)
  • When can a general error correction (GEC) be posted to the September Fiscal Period at UCI?

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

    How many working days after the month has ended can transactions be posted to most fiscal periods at UCI?

    <p>5</p> Signup and view all the answers

    Study Notes

    Fiscal Year at UCI

    • The fiscal year at UCI begins on July 1 and ends on June 30.

    Special Fiscal Periods at UCI

    • There are 13 special fiscal periods at UCI.

    General Ledger Entries at UCI

    • There are 13 fiscal periods for General Ledger entries at UCI.

    General Error Correction (GEC) Posting

    • A general error correction (GEC) can be posted to the September Fiscal Period at UCI from July 1 to the 5th working day in August.

    Transaction Posting Deadline at UCI

    • Transactions can be posted to most fiscal periods at UCI up to 5 working days after the month has ended.

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    Description

    Test your knowledge of fiscal years and fiscal periods with this quiz. Explore the concepts of fiscal year and fiscal period, and understand their significance in accounting and financial reporting.

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