When you open the form/report this way, you assign the recordsource property when an event runs. That event is usually one that belongs to a control on a form that you use to trigger the opening of the form/report. So it might be a button click or perhaps AfterUpdate event of a combo. IMO, the button is better as a trigger because you can make the wrong selection in a combo and then things happen when you don't want them to. So a bunch of option buttons is one way to select what it is you want to see. However, each time you need a new option, you're redesigning the form. That's why I'd tend to use a combo - easy to add an item to the list.
See if this is something that you might want to use
http://allenbrowne.com/ser-62.html
EDIT - In case I wasn't clear, no you do not create several forms or reports that look the same except for the records you see. The search form link shows a common method of filtering records when using the same form/report object.
The more we hear silence, the more we begin to think about our value in this universe.
Paraphrase of Professor Brian Cox.