BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Complete
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Extensive
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True and fair
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Accurate
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Detailed explanation-1: -Good management information needs to be: Accurate. Useful. Timely.
Detailed explanation-2: -Accuracy: Data gathered by the system should be error free. Completeness: The software should be designed to gather as much data as required. Relevance: Data gathered should fulfill specific need. Accessibility: The software should allow the correct user to retrieve the data when required.
Detailed explanation-3: -There are five traits that you’ll find within data quality: accuracy, completeness, reliability, relevance, and timeliness – read on to learn more.
Detailed explanation-4: -Good information is that which is used and which creates value. Experience and research shows that good information has numerous qualities. Good information is relevant for its purpose, sufficiently accurate for its purpose, complete enough for the problem, reliable and targeted to the right person.