External parties receive information about past performance from
A)planning reports.
B)budget reports.
C)financial accounting reports.
D)managerial accounting reports.

Question

Quizplus · Accepted Answer

External parties typically receive information about past performance from financial accounting reports such as financial statements like the income statement, balance sheet, and cash flow statement. Planning reports and budget reports are used internally by organizations to plan and budget for future performance. Managerial accounting reports are also used internally to make decisions about the day-to-day operations of a business.

External Parties Receive Information About Past Performance from