Data Must Be Converted into Information to Be Considered Useful

question 17

Multiple Choice

Data must be converted into information to be considered useful and meaningful for decision making.There are six characteristics that make information both useful and meaningful.If information is free from error or bias and accurately represents the events or activities of the organization,it is representative of the characteristic of

• A) relevancy.
• B) timeliness.
• C) understandability.
• D) reliability.

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Definitions:

Lloyds of London

A British insurance and reinsurance market, where members join together as syndicates to insure and spread risks.

FDIC

The Federal Deposit Insurance Corporation, a U.S. government agency insuring deposits in banks and thrift institutions, offering depositors protection against bank failure.

CFTC

The Commodity Futures Trading Commission, a United States federal agency regulating futures and options markets.

Futures Contract

A standardized legal agreement to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future.