Internal reports of financial information:
A)Are standardized by the AICPA
B)Are the same as those distributed to the external users
C)Vary by the user
D)Are distributed on the same time schedule as external reports

Question

Quizplus · Accepted Answer

Internal reports of financial information can vary based on the user's needs and preferences, as opposed to external reports which must adhere to generally accepted accounting principles (GAAP) and be standardized for all users. Internal reports may be distributed on different schedules than external reports and often contain more detailed information.

Internal Reports of Financial Information