Consider the following statements about performance reports. Which statement or combination of statements is the most accurate?

Multiple Choice

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

Performance reports provide feedback to managers and allow them to better control operations; and many performance reports have budget, actual, and variance data

Performance reports provide feedback to managers and allow them to better control operations. Performance reports are often structured around a firm's organizational hierarchy$$that is$,$ data relating to lower$-$level units $($e$.$g$.,$ departments$)$ are combined and flow into higher$-$level units $($e$.$g$.,$ stores$)$

Many performance reports have budget, actual, and variance data; and performance reports are often structured around a firm's organizational hierarchy$$that is$,$ data relating to lower$-$level units $($e$.$g$.,$ departments$)$ are combined and flow into higher$-$level units $($e$.$g$.,$ stores$)$

Performance reports provide feedback to managers and allow them to better control operations. Many performance reports have budget, actual, and variance data. Performance reports are often structured around a firm's organizational hierarchy$$that is$,$ data relating to lower$-$level units $($e$.$g$.,$ departments$)$ are combined and flow into higher$-$level units $($e$.$g$.,$ stores$)$