Question: 3 . No independent audits are required. 4 . Extends beyond double - entry accounting to any relevant data. 5 . Prepared in accordance with

3. No independent audits are required.
4. Extends beyond double-entry accounting to any relevant data.
5. Prepared in accordance with generally accepted accounting principles.
6. Reports are typically prepared quarterly and/or annually.
7. Content of reports pertain to subunits of the business.
8. An audit is required by an independent accountant.
9. Financial statements are prepared.
10. Reports are special-purpose for specific decisions.
11. Limited to double-entry accounting and cost data.
12. Reports are highly aggregated, that is, condensed.
3 . No independent audits are required. 4 .

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