Define at least three types of business reports
What will be an ideal response?
Scheduled Reports: Reports produced at predefined intervals–daily, weekly, or monthly–to support the routine informational needs of an organization.
Key-Indicator Reports: Reports that provide a summary of critical information on a recurring basis.
Exception Reports: Reports that highlight data that are out of the normal operating range.
Drill-Down Reports: Reports that provide details behind the summary values on a key-indicator or exception report.
Ad-hoc Reports: Unplanned information requests in which information is gathered to support a nonroutine decision.
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A business hired a repair service to overhaul its plumbing system. The repair service began work on September 15 and completed it on October 15. The business agreed to pay the service $4,000 when the work was completed
As of September 30, the work was 50% complete, and the business made an adjusting entry to accrue repair expense as of the end of September. On October 15, the work was completed, and the repair service was paid in full. Provide the journal entry for the cash payment on October 15. (Ignore explanation). What will be an ideal response
Joe Kerry, owner of a small bakery, wants to obtain marketing insights to improve his business. Joe has a limited budget and would like to gather free secondary data. What is the best option for Joe?
A) mail questionnaires B) focus group interviews C) Internet search engines D) personal interviews E) commercial online databases