Which of the Following Statements Is True Regarding Accounting in the Management

Which of the following statements is true regarding accounting in the management decision- making process?

A) The format and content of internal financial reports are determined by the framework, principles, and rules of GAAP and/or IFRS.
B) The scope of external financial reports and the level of detail within is kept private, as it is broader and more detailed than internal reports.
C) External financial reports and records are created from the same database of financial transactions that populate the internal financial reports for decision-making purposes.
D) Financial reports and records initiate the entire decision-making process for management.