In contrast to the managerial reporting process, the financial reporting process prepares all of the following financial statements except:
A) the balance sheet
B) the income statement
C) the standard costing variance report
D) the statement of owner equity

Question

Quizplus · Accepted Answer

The standard costing variance report is not a financial statement. The other options (A, B, and D) are financial statements that are prepared in the financial reporting process.

In Contrast to the Managerial Reporting Process, the Financial Reporting