The Management Discussion and Analysis section of the annual report can best be described as:

a. Legalistic and lengthy.

b. Frank but objective.

c. Biased but informative.

d. Independent but precise.

The Management Discussion and Analysis section of the annual report can best be described as c. Biased but informative.

Explanation:

Biasing is an unfair activity in which the person favors one side and opposes the other. Biased people always exhibit prejudiced thinking.

These kinds of people think only from their side and they don't think "out of the box".

The management will be always biased when discussing about the annual report. The report provided by them in the discussion will be informative. But still it will be favored for someone and opposing another person.

The Management Discussion and Analysis section of the annual report can best be described as Biased but informative

Explanation:

Management discussion and analysis (MD&A) refers to that part of a annual report of a public company in which the c-suite of the company addresses the overall performance of the company. (the companies performance is analysed both on the qualitative and the non-qualitative parameters)

Management discussion and analysis (MD&A) report is an important source of information both for the analyst as well as the investor of the company.

Management discussion and analysis (MD&A) report provides review on financial statements, systems and controls, and various other factors like compliance with laws and regulations, actions that has been planned for any challenges the company is facing. It also discusses the companies approach for the upcoming year by outlining future goals and the companies approach to new projects

As, the Management discussion and analysis (MD&A) report is provided by the company it is said to be biased but it is also informative for the analyst and the investors. so the answer is (C) Biased but informative.