1. Estimating the amount of materials needed for next month's production. 2. Information in reports focuses on objectivity and verifiability. 3. Reports follow GAAP or IFRS. 4. Precise information that is more readily available is included in reports. 5. The focus and reporting emphasize segments of an organization. 6. Organizations may follow their own guidelines for reports generated. If the ending inventory of finished goods is overstated, net income will be overstated. True or False True False ok nt ences