Explain what the term fiscal year means, why it is used, and how it differs from a calendar year in terms of financial recordkeeping. (source for internet)

Taking into account the statement above: "Explain what the term fiscal year means, why it is used, and how it differs from a calendar year in terms of financial recordkeeping."

The answer is: A fiscal year is a term that is used in finance and many firms use a different 12-month cycle than ours, since the Internal Revenue Service gives tax-paying businesses such an option. The differences between a fiscal and a calendar year is regarding to an account that can therefore result in accounting mistakes.

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due to inefficiency of management, the business plan has failed

idk what right product means but i assume it's this one since this was the last one left after i did the other three

the finance team has misjudged the requirement of business plan and chosen a wrong line of credit

operations risk is when the employees make a mistake

flash floods have damaged all machinery in the main manufacturing

natural disasters include anything ruined in the business by the weather or other disasters such as earthquakes

there have been foreign exchange rate fluctuations

economic risks is when things in the economy changes (like interest rates, currency value). the government has a large part in controlling this