Performance reports are accounting reports that compare
A) planned data with actual data.
B) audited data with actual data.
C) managers' bonuses with performance ratings by supervisors.
D) actual data with industry standards.

Question

Quizplus · Accepted Answer

Performance reports typically compare planned or budgeted data with actual data to measure the performance of an organization, department, or project. This comparison helps in identifying deviations or variances and taking corrective actions to improve performance. Comparisons with audited data or industry standards may also be included in the report, but the primary focus is on planned vs. actual performance. The option C is not relevant as it relates to employee evaluations, not accounting reports.

Performance Reports Are Accounting Reports That Compare