"A fiscal year for a business a. always begins on January 1 and ends on December 31 of the same year b. ordinarily begins on the first day of a month and ends on the last day of the following twelfth month c. is determined by the federal government d. should end at the height of the business's annual operating cycle"

b. Ordinarily begins on the first day of a month and ends on the last day of the following twelfth month

Explanation:

The fiscal year for the business can start from the first date of any month and ends at the last date of the following twelve month. The businesses have the choice to choose their fiscal year which is most suitable for them. For example, the fiscal year for non-profit organizations in US starts from 1st July till 30th June because majority of their programs falls in the course of summers and it is best for them to end the year at June 30th.