Explain the four primary traits that determine the value of information.
What will be an ideal response?
Information is data converted into a meaningful and useful context. Information can tell an organization how its current operations are performing and help it estimate and strategize about how future operations might perform. It is important to understand the different levels, formats, and granularities of information along with the four primary traits that help determine the value of information, which include (1) information type: transactional and analytical; (2) information timeliness; (3) information quality; (4) information governance.
You might also like to view...
What is meant by the term competitive edge?
A. It refers to a concept that two or more people, working together in a coordinated way, can accomplish more than the sum of their independent efforts. B. It refers to an assessment of the strengths and weaknesses of current and potential competitors. C. It refers to a particular characteristic that makes one firm more attractive to customers than other firms. D. It refers to an organized effort to gather information about markets or customers.
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30$5425?Deposits in transit at month-end$1940?Outstanding checks at month-end$590?Bank service charges$32?EFT automatically deducted monthly, not yet recorded by Maxi$520?An NSF check returned on a customer account$335?The adjusted cash balance per the books on January 31 is:
A. $5642 B. $5888 C. $5431 D. $4538 E. $6478
Which of the following does not accurately characterize the IFAC?
a. It produces international financial reporting standards. b. Its guidelines cannot be imposed on any member organization or nation. c. Its board produces international standards for ethics, education, and public sector accounting. d. It produces international standards for auditing and assurance.
Most people lose their jobs not because they could not do the work, but because they failed to get along and fit in with others
Indicate whether the statement is true or false