Which statements are true about the Multiple Calendars feature in NetSuite?

The Multiple Calendars feature in NetSuite is designed to provide flexibility in managing different calendar definitions for various aspects of a business, such as fiscal and tax periods. The correct answer correctly indicates that without this feature, tax years are indeed the same across all subsidiaries.

This means that when a company operates in multiple jurisdictions, such as different states in the U.S. or between countries like the U.S. and Canada, revenue recognition and tax reporting can become complex. If there is only one calendar system in place, all subsidiaries will follow the same tax year, which may not align with local regulations or operational needs.

Enabling the Multiple Calendars feature allows distinct subsidiary calendars to be set up, permitting each subsidiary to have its own tax year that might differ from others, reflecting local tax reporting requirements while maintaining the overall integrity of financial reporting across the organization. This flexibility is crucial for compliance and effective financial management.

The other statements revolve around the capabilities provided by the Multiple Calendars feature but do not accurately reflect the consequences of not having the feature. For instance, suggesting that tax periods are the same as accounting periods unless the feature is enabled does not directly relate to how subsidiaries operate under a unified calendar system. The same principle applies to the statements regarding