In Order to Be Cost Effective, Information Must Be

question 94

Multiple Choice

In order to be cost effective, information must be:

• A) comprehensive.
• B) be worth the cost of producing it.
• C) timely.
• D) adaptable.
• E) an input into another system.

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Definitions:

Estimated Life

The expected period over which an asset is useful to the owning entity, affecting calculations like depreciation.

Residual Value

The anticipated financial return of an asset at the time of its disposal following the end of its usefulness.

Net Book Value

The net value of an asset after accounting for depreciation or amortization.

Salvage Value

The estimated resale value of an asset at the end of its useful life, often used in depreciation calculations.