Interesting that the guys who created these options did neglect to also use last term, next term, this year (year to date), last year, next year.
maybe it would be even better to make it even more flexible so that the admin could opt. for. Similar to the appointment (start time / scheduledstart ...) record fields in ADF. or other records where much more options are already available. If ever there was a clear solution design, why not take over already existing sets... maybe someone does also consider time, like : by 31.12.2021 24:00 UTC, CET etc.