Which of the Following Statements Is Not True

question 2

Multiple Choice

Which of the following statements is not true?

• A) Performance reports normally report standard costs and variances.
• B) Performance reports should contain space for explanations of variances.
• C) Performance reports should be tailored to the responsibilities of the manager or department for which they are prepared.
• D) Performance reports do not present the causes of variances.

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Definitions:

Common Law

A legal system based on custom, court rulings, and past legal precedents rather than statutory laws.

Contract Law

The body of law that regulates the formation, performance, and enforcement of contracts between parties.

Sales Differ

Refers to the variation or discrepancy in sales outcomes, often used to analyze or report on different performance metrics.

Parol Evidence Rule

A legal principle that prevents parties to a written contract from presenting extrinsic evidence of terms of the contract that contradict, modify, or vary contractual terms agreed to in writing.