Consider the following statements about performance reports:

I. Performance reports provide feedback to managers and allow them to better control operations.

II$.$ Many performance reports have budget, actual, and variance data.

III. Performance reports are often structured around a firm$$s organization hierarchy$$that is$,$ data relating to lower$-$level units $($e$.$g$.,$ departments$)$ are combined and flow into higher$-$level units $($e$.$g$.,$ stores$).$

Which of the above statements is $($are$)$ true?

I and II$.$

I only.

I and III.

II and III.

I, II$,$ and III.