Management Reports are:
A)used by management and do not have to follow specified rules (i.e.GAAP or Internal Revenue Code).The reports are prepared as needed to provide management with information to make informed business decisions.
B)used by management and follow a specified set of rules (i.e.GAAP or Internal Revenue Code).The reports are prepared to ensure management can provide outside users with information to make informed decisions regarding their company.
C)used by management and do not follow specified rules (i.e.GAAP or Internal Revenue Code).The reports are prepared either monthly,quarterly or yearly to ensure management is reviewing financial data on a timely basis.
D)used by management and follow a specified set of rules (i.e.GAAP or Internal Revenue Code).The reports are prepared either monthly,quarterly or yearly to ensure management is reviewing financial data on a timely basis.

Question

Quizplus · Accepted Answer

Management reports are designed for internal use and therefore do not need to adhere to external reporting standards such as GAAP or the Internal Revenue Code. They are prepared as needed to assist management in making informed decisions.

Management Reports Are