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16) A managerial report, compared to financial statements prepared in conformity with generally accepted accounting principles, is most likely to Ofocus on the operational results of the most recently completed accounting period Oprovide information for issuance of common stock Obe used by investors for investment purposes Oprovide information for external reporting purposes

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Answer #1

A management report is an internal report that helps management take decisions which are vital to the operation of company.

As the financial statements are more focused on the operational results of the accounting period, is used by investors (external users) for investment purposes, and also provide information for external reporting purposes (like for income tax authorities, bankers, investors, etc.)

However, managerial report is for internal users, and provide necessary information and relevant extracts of data, which is necessary for issuance of common stock,

So, the correct answer is Option B.

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