BUSINESS ADMINISTRATION
MANAGEMENT INFORMATION SYSTEM
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Punishment
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Accessible
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Timely
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Relevant
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Punctual
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Detailed explanation-1: -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.
Detailed explanation-2: -Relevance refers to how helpful the information is for financial decision-making processes. For accounting information to be relevant, it must possess: Confirmatory value – Provides information about past events. Predictive value – Provides predictive power regarding possible future events.
Detailed explanation-3: -Information : Information is the product of data processing. Information is interrelated data. Information is equivalent to finished goods produced after processing the raw material. The information has a value in decision making.