Performance Reports Are Accounting Reports That Compare

question 57

Multiple Choice

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.

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Definitions:

Return Investors

The profit or loss generated on an investment over a certain period of time, expressed as a percentage of the investment's initial cost.

Economic Profit

The difference between a firm's total revenue and its total economic costs, including both explicit and implicit costs.

Political Influence

The power individuals, groups, or organizations hold to sway or alter government policy or decisions in their favor, often through lobbying or other means.

Investment Funds

Pooled funds that gather resources from many investors to invest in securities such as stocks, bonds, money market devices, and other assets.