Maude Is Considering Opening Her Own Business, Now That She

Maude is considering opening her own business, now that she has retired from her regular job. Her business idea is a reminder and shopping service, in which clients submit lists of birthdays, anniversaries and other important dates. Maude sends her clients reminders for those dates, and shops for special gifts at the client's request. She plans to do all of the work herself rather than hiring and managing additional employees. 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