Why Is It Important for Business Professionals to Take an Active

question 26

Multiple Choice

Why is it important for business professionals to take an active role in developing and managing information systems?

• A) They know how to create a database and configure computers.
• B) They are the people who know how to build networks.
• C) They know whether a system meets their needs and requirements.
• D) They are the lone users of information systems.

Understand the concepts of budget slack and goal conflict in budget preparation.

Calculate staffing requirements and budgeted expenses for sales clerks based on projected sales.

Assess how budgeting aids in planning, directing, and controlling an organization's financial health.

Comprehend the process of preparing a master budget and its components.

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Definitions:

Product Liability

The area of law that holds manufacturers, distributors, suppliers, and retailers accountable for any injuries their products may cause.

Commonly Known Danger

A hazard or risk that is well-known to the average individual, implying that individuals have a responsibility to protect themselves.

Assumption Of Risk

A defense against negligence that can be used when the plaintiff was aware of a danger and voluntarily assumed the risk of injury from that danger.

Strictly Liable

The legal responsibility for damages, or loss, regardless of the actor's fault or intention.