Final answer:
Dashboards are the tools that provide real-time or near real-time business analytics, helping managers make timely decisions based on live data visualizations.
Step-by-step explanation:
The option that displays real-time or near real-time information so that managers can take corrective action on a timely basis is c. dashboards.Dashboards are interactive tools that visualize data reports, providing real-time or near real-time analytics for managers and decision-makers. They compile and condense complex data into easy-to-read graphs and charts, enabling managers to monitor business performance and react quickly to changes. Unlike traditional reports, dashboards offer a dynamic overview of operations, often with drill-down capabilities for more detailed explorations.
This instant access to live data contrasts with other tools like responsibility accounting, flexible budgets, balanced scorecards, and xbrl instance documents, which do not typically offer real-time information, but rather structured reporting at intervals. Dashboards are tailored to display the most relevant KPIs and metrics that align with a company's strategic objectives, making them an essential tool for timely managerial decisions and operational oversight.