Which of the Following Statements Is True for Maude's Business

question 38

Multiple Choice

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

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Definitions:

Federal Government Revenue

The income the government receives from taxes, fees, and other sources to fund public services and goods.

State

Is an organized political community under one government; can refer to a country or a specific government jurisdiction within a country.

Local Government Revenue

The funds collected by municipalities and local authorities through various means such as taxes, fees, and grants, which are used to finance public services and infrastructure.

Expenditures

The act of spending funds or using resources to acquire goods and services.