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Which of the following is (are) true regarding timeliness and the importance of periodic reporting? (Check all that apply.) Multiple select question. The value of information is often linked to its timeliness.
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28 votes
Which of the following is (are) true regarding timeliness and the importance of periodic reporting? (Check all that apply.) Multiple select question. The value of information is often linked to its timeliness. Decision makers require financial statements that are audited to ensure reliability. Businesses report financial information at regular intervals to ensure timeliness of data. Useful information must reach decision makers frequently.

User Jerry Hicks
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16 votes
16 votes

Answer:

• The value of information is often linked to its timeliness.

• Businesses report financial information at regular intervals to ensure timeliness of data.

• Useful information must reach decision-makers frequently.

Step-by-step explanation:

Periodic reporting simply explains that the finances of businesses are reported in distinct time periods. The purpose of periodic reporting is simply for the provision of information.

Based on the options given, the true options regarding periodic reporting are:

• The value of information is often linked to its timeliness.

• Businesses report financial information at regular intervals to ensure timeliness of data.

• Useful information must reach decision-makers frequently.

User Giancarlo Ventura
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2.4k points
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