The following statement is a true statement relating to the Interim Financial Statements, EXCEPT:

A. Interim reports are financial statements issued between two annual financial statements

B. Interim reports are separate reports and are not an integral part of the annual financial statements

C. Interim reports can include all components of financial statements in accordance with financial accounting standards

D. Interim reports can be prepared quarterly, monthly or semiannually

E. Answers A and B are True

Please choose and explain the right answer.