Consider the following statements about performance reports:

I. Performance reports provide feedback to managers and allow them to better control operations.
II. Many performance reports have budget, actual, and variance data.
III. Performance reports are often structured around a firm's organization hierarchy-that is, data relating to lower-level units (e.g., departments) are combined and flow into higher-level units (e.g., stores).

Which of the above statements is (are) true?

A. II and III.
B. I and III.
C. I, II, and III.
D. I only.
E. I and II.