A Cost Management System

question 10

Multiple Choice

A cost management system

• A)is finalized when the information currently being produced is the same as the information currently desired.
• B)can be generically designed to fit the information needs of the majority of domestic (but not global)organizations.
• C)must be continuously improved to adapt to changes in an organization's internal and external environment.
• D)that has been appropriately designed from gap analysis,does not need to be changed unless there is a change in organizational management or culture.

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Definitions:

Traditional Rule

Established conventions or standards that have been widely accepted and followed over time.

Minor

A person under the legal age of adulthood, typically under 18 years old in most jurisdictions, who lacks the legal capacity for certain actions and decisions.

Rescinding

The action of revoking, cancelling, or repealing a contract, agreement, or order.

Legal Capacity

The ability of an individual or entity to enter into legally binding contracts and obligations.