Explain the Concept of Information Synergies

question 60

Essay

Explain the concept of information synergies.

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Definitions:

Employee Evaluation

A systematic process of assessing and reviewing an employee's performance on the job and his or her potential for future development.

Raise

An increase in salary or wages, often awarded to employees based on performance or as a cost-of-living adjustment.

Bank Reconciliation

A process that explains the difference between the bank balance shown in an organization's bank statement, as provided by the bank, and the corresponding amount shown in the organization's own accounting records at a particular point in time.

Monthly Reconciliation

Monthly Reconciliation is the process of verifying and adjusting the balance of an account to match the corresponding bank or financial statement on a monthly basis.