Which of the following is a true statement?
a. Predictive value refers to usefulness of inputs for predictions rather than being an actual prediction itself.
b. Timeliness complements rather than conflicts with the other aspects of relevance because information is more complete and accurate if it is timely.
c. The conceptual framework stressed predictive value rather than the importance of decision-making by outside users.
d. Timeliness and predictive value are the two main aspects of relevance.
ANSWER: A
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The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features
A) product B) production C) societal marketing D) marketing E) selling
Sunk costs are omitted from decision analysis
a. always. b. never. c. sometimes. d. only if immaterial.
Trendline Architects' core competency is building multi-family housing in urban areas. This competency is based primarily on the decisions made by the company's top management over several years to focus on building in densely populated cities. This process is called
A. dependence complexity. B. path dependence. C. causal dependence. D. path immobility.
In Boomer v. Atlantic Cement, where a cement plant polluted nearby homes, the court's decision contrasted with the decision in Whalen v. Union Bag & Paper Co, where a paper mill polluted a farmer's creek so he sued to stop the pollution because:
a. in Whalen there was no comparison of costs and benefits while in Boomer the court compared the economic costs and benefits of an injunction b. in Boomer there was no comparison of costs and benefits while in Whalen the court compared the economic costs and benefits of an injunction c. in Whalen the court decided that the farmer had more economic impact than the plant and so found in favor of him, while in Boomer it found in favor of the home owners even though the cement plant had more economic impact d. in Whalen the court decided that the farmer had less economic impact than the plant and so found in favor of the plant, while in Boomer it found in favor of the home owners even though the cement plant had more economic impact e. there was no contrast in the court's decision in the two cases because it found for the defendants in both cases due to economic cost-benefit analysis