Information for external parties about past performance is provided by:
A)budget reports.
B)financial accounting reports.
C)managerial accounting reports.
D)planning reports.

Question

Quizplus · Accepted Answer

Financial accounting reports provide information for external parties, such as shareholders, creditors, and regulatory authorities, about past performance of an organization. They typically include financial statements like balance sheets, income statements, and cash flow statements that show the financial performance and position of the organization. Budget reports, managerial accounting reports, and planning reports are primarily used for internal decision-making and planning purposes.

Information for External Parties About Past Performance Is Provided By