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8. Dependent fiscal year & independent fiscal year
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Answer Posted / pulak
year independent fiscal yr means it may be a calender yr or non-calender yr but a period of 12 months.companies generally follw this.
year dependent fiscal yr means its a period of less than 12 months.this generally occurs when a company change its fiscal yr from calender yr to non-calender yr or when a company is becoming a part of another company.this type of fiscal yr is less in practice.
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