4. A fiscal year: A. is always the same as the calendar year. B. is frequently selected based on the firm's operating cycle. C. must always end on the same date each year D. must end on the last day of a month. 5. Which of the following is not a principal form of business organization? A. Partnership. B. Sole proprietorship. C. Limited unregistered business. D. Corporation. E. None of the above. 6. The time frame associated with a balance sheet is: A. a point in time in the past. B. a one-year past period of time