vceguide.com wants to have 16 accounting periods that include an adjusting period for each quarter in its 4-5-4 accounting calendar. Its fiscal year end is March 31. The normal month end is on a Friday, but the last day of each quarter is always on the last day of the quarter’s final calendar month. Choose the remaining setup for the calendar to meet the requirement.
A. Define 12 monthly periods based on the 4-5-4 calendar ending on the last Friday of each month. Define an adjusting period on the last Friday of each quarter.
B. Define 12 monthly periods based on the 4-5-4 calendar ending on the last day of each month. Define an adjusting period on the last day of each quarter.
C. Define 12 monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter ending on the last day of the month. Define an adjusting period for each of the last day of the quarter.
D. Define 12 monthly periods based on the 4-5-4 calendar ending on the last Friday of each month, except for the last month of each quarter that falls on the last day of the month. Define four adjusting periods on March 31 of the fiscal year.
E. Define 12 monthly periods based on the 4-5-4 calendar ending on the last Friday of each month. Define four adjusting periods for March 31 of the fiscal year.
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