Which of the following statements is true for Maude's business regarding measuring and monitoring performance?
A) Maude does not need a system to measure and monitor performance because her company is a sole proprietorship
B) Maude needs audited financial statements every year
C) Maude can track cash flows on a monthly basis
D) Maude only needs to reconcile her accounts every few years

Question

Quizplus · Accepted Answer

Tracking cash flows on a monthly basis is a practical approach for any business, including a sole proprietorship, to ensure financial health and performance monitoring.

Which of the Following Statements Is True for Maude's Business