Management Reports Are

question 11

Multiple Choice

Management Reports are:

• A)used by management and do not have to follow specified rules (i.e.GAAP or Internal Revenue Code).The reports are prepared as needed to provide management with information to make informed business decisions.
• B)used by management and follow a specified set of rules (i.e.GAAP or Internal Revenue Code).The reports are prepared to ensure management can provide outside users with information to make informed decisions regarding their company.
• C)used by management and do not follow specified rules (i.e.GAAP or Internal Revenue Code).The reports are prepared either monthly,quarterly or yearly to ensure management is reviewing financial data on a timely basis.
• D)used by management and follow a specified set of rules (i.e.GAAP or Internal Revenue Code).The reports are prepared either monthly,quarterly or yearly to ensure management is reviewing financial data on a timely basis.

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Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.

Price Level

An index reflecting the overall cost of commodities and services within an economy during a particular period.

Short-Run Aggregate Supply Curve

A curve that represents the relationship between the total production of goods and services and the price level for output in the short-run.

Price Level

A measure of the average prices of goods and services in the economy.