orporate and Management Accounting
Group i
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Section
Section i
Question No. 15
Which of the following statement/s is/are true? (i) Report must be correct within the permissible degree of inaccuracy; (ii) The report should be factual; (iii) The report should not highlight
significant deviations and standards
O Both (i) & (ii)
O Both (ii) & (iii)
O All of the above
Both (i) & (iii)
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Answer:
(ii) The report should be factual; (iii) The report should not highlight
significant deviations and standards
Answer:
(ii) The report should be factual; (iii) The report should not highlight significant deviations and standards
Explanation:
reports are scientific devices utilized by administrators to advise the exhibition regarding the business in a few regions and divisions. Senior chiefs and administration use them to drive their essential choices and screen business development with ongoing pointers.
for every report that you will write, you will need to start with the end in mind. Why do you need that report in the first place? Do you know the key drivers of your business? How can you tell if your pricing is correct? How do you define success? Ask yourself some important data analysis questions that will allow you to address the needs of the report.
Once you know what you are monitoring and why it will be much easier to set the performance indicators that will track each specific aspect of the performance. Don’t go further in the reporting process until you have set at least two to three goals.
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