Which One of the Following Describes Internal Reports

question 12

Multiple Choice

Which one of the following describes internal reports?

• A)They are often audited by CAs.
• B)They must be prepared according to GAAP.
• C)They are aggregated.
• D)They are detailed.

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Definitions:

Normative Statements

Opinions or judgments that reflect beliefs about what ought to be rather than statements that can be tested or verified.

Value Judgments

Assessments based on personal views, ethics, or standards rather than objective measures, often influencing decision-making processes.

Policy Issues

Topics or problems that require governmental or organizational decision-making and action for resolution.

Normative Economic Statement

Statements that reflect opinions, beliefs, or values about what the economy should be like, rather than what it actually is.