ECONOMICS

Detailed explanation-1: -An accounting information system should be designed to provide information that is useful. To be useful the information must be: The answer is Letter E, relevant, accurate, and timely. This is the primary purpose of having an accounting information system.

Detailed explanation-2: -Timeliness is how quickly information is available to users of accounting information. The less timely (thus resulting in older information), the less useful information is for decision-making. Timeliness matters for accounting information because it competes with other information.

Detailed explanation-3: -The major benefits of information are a reduction of uncertainty, improved decisions, and a better ability to plan and schedule activities. The costs are the time and resources spent collecting, processing, and storing data as well as distributing information to decision makers.

Detailed explanation-4: -Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.