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The correct answer is a. time period. Business Period refers to the time frame that is a part of the Business Cycle and is made up of either four or five calendar weeks, depending on the situation.
Any time frame used for financial reporting is referred to as an accounting period. The statements or reports for a certain accounting period include transactions that occurred within a specified calendar range. A reporting or accounting period frequently lasts for a full year. For various company responsibilities, there could be numerous accounting periods. The accounting year, also known as the accounting and reporting time periods, is a common word used in finance to describe a period of time. Depending on the inclination of the business and owners, these intervals can be quarterly, semi-annually, annually, or at any other time. They are usually established by historians after the era has passed. They are extensive and range in length from hundreds to thousands of years.
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