Annual Reports Are in a Sense, Evaluations of Management's Performance

Multiple Choice

Annual reports are in a sense, evaluations of management's performance but since they are prepared by management they are likely to:

A) exclude the details of management discussion and analysis.
B) portray the firm's past performance in a most favorable light.
C) give the shareholders the opportunity to objectively evaluate management's day-to-day performance during the past year.
D) exclude the details of the minority interests groups.