Question

The statistical report is typically used to set targets for the organization's expenditures for the year and then report actual costs on a monthly or quarterly basis.
A. True
B. False

Answer 1

Answer:

False

Explanation:

Budget and Financial reports are used to set targets for organization's expenditure. These reports display cost and expenditures related to all assets, raw material, inventory of the organization. The variance is then calculated based on targeted figures and the actual expenses. The deviation from target is found by the variance and then actions are taken for it. Managers rely heavily on these reports. Statistical reports are non financial reports. These focus on customer satisfaction, employee performance, staff turnover rate and assets performance.