COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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gives more timely access to information
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allows for more immediate measures of performance results
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allows for better coordination among individuals and groups
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makes it easier to communicate with diverse stakeholders
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Detailed explanation-1: -Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.
Detailed explanation-2: -Information systems have been most helpful to managers by providing support for their roles in disseminating information, providing liaisons between organizational levels, and allocating resources. However, information systems are less successful at supporting unstructured decisions.
Detailed explanation-3: -Information systems contain information about significant people, places, and things within the organization or in the environment surrounding it. By information we mean data that have been shaped into a form that is meaningful and useful to human beings.
Detailed explanation-4: -Coordination is the function of management which ensures that different departments and groups work in sync. Therefore, there is unity of action among the employees, groups, and departments. It also brings harmony in carrying out the different tasks and activities to achieve the organization’s objectives efficiently.