Final answer:
Timeliness, relevance, and accuracy are characteristics of useful managerial accounting reports, while subjectivity is not.
Step-by-step explanation:
Managerial accounting reports provide valuable information for decision-making and evaluating performance within a company. The characteristics of useful managerial accounting reports include timeliness, relevance, and accuracy. However, subjectivity is not a characteristic of useful managerial accounting reports.
Timeliness refers to the reports being up-to-date and providing current information that can be used for making timely decisions. Relevance means that the information in the reports is directly related to the subject at hand and can be used to address specific issues or concerns. Accuracy is important to ensure that the information presented in the reports is reliable and free from errors.
Subjectivity, on the other hand, involves personal opinions or biases, which are subjective in nature and can vary from person to person. Managerial accounting reports aim to provide objective and factual information for decision-making, so subjectivity is not a desirable characteristic.