Which of the Following Statements Is FALSE

question 36

Multiple Choice

Which of the following statements is FALSE?

• A) Financial data on the Internet or via company annual reports provide a wealth of knowledge about the operations of the firm.
• B) Knowing the relationship of the primary financial statements and how to utilize the data in each are important tools for all financial managers.
• C) Although the annual report of a company is printed and mailed to owners and the SEC, much of the financial statement information is available at various financial web sites.
• D) EDGAR stands for Electronic Data Gathering Analysis and Retribution.

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Definitions:

Budget Performance Report

A report that compares budgeted amounts to actual amounts for revenues, expenses, and other financial parameters to measure the financial performance of a company.

Budgeted Amounts

Estimated financial figures used for planning purposes, outlining the expected revenues, expenses, and other financial transactions for a future period.

Actual Amounts

Actual amounts refer to the true or real figures that have been recorded in financial transactions, not estimates or projections.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, allowing for a more accurate comparison of actual vs. budgeted performance.