ECONOMICS

COST ACCOUNTING

INFORMATION FOR DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A computer-based system that stores, organizes, and provides information about a business is a
A
database management network
B
decision-making matrix
C
SWOT analysis
D
management information system
Explanation: 

Detailed explanation-1: -A management information system (MIS) is a computerized database of financial information organized and programmed in such a way that it produces regular reports on operations for every level of management in a company.

Detailed explanation-2: -A management information system (MIS) is a computer system consisting of hardware and software that serves as the backbone of an organization’s operations. An MIS gathers data from multiple online systems, analyzes the information, and reports data to aid in management decision-making.

Detailed explanation-3: -The general term, computer-based information systems (CBIS), is a constellation of a variety of information systems, such as office automation systems (OAS), transaction processing systems (TPS), management information systems (MIS), and management support systems (MSS).

Detailed explanation-4: -Management information systems (MIS) are systems used to collect, store, process and analyze data from various business activities. Examples of MIS include customer relationship management systems (CRM), enterprise resource planning systems (ERP), and data warehouse systems.

Detailed explanation-5: -Management information systems are those systems that allow managers to make decisions on successful operations of business. MIS refers broadly to a computer-based system that provides manager with the tools for organizing, evaluating and efficiently running their departments.

There is 1 question to complete.