Which of the following statements is true regarding timely performance reports?
A)In many companies, these reports are the major means of providing information to management concerning the actual operations of the companies' internal control systems
B)These reports should only include monetary data
C)Since these reports fail to provide feedback to management on the operations of previously implemented internal control procedures, other techniques are needed to provide this feedback to managers
D)The complexity that a computer introduces into a company's information system will typically prevent the preparation of timely performance reports for the company's management

Question

Quizplus · Accepted Answer

Performance reports are crucial for management to understand how well the company's internal control systems are functioning. They often include both financial and non-financial data, can provide feedback on the effectiveness of internal controls, and the use of computers can actually enhance the ability to prepare these reports promptly.

Which of the Following Statements Is True Regarding Timely Performance