Which of the Following Combinations Results in Relevant Information

question 12

Multiple Choice

Which of the following combinations results in relevant information?

• A)Occurs in the future and is unavoidable
• B)Occurs in the future and is avoidable
• C)Occurs in the past and is unavoidable
• D)Occurs in the past and is avoidable

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Definitions:

Operational Efficiency

The ability of an organization to minimize waste and maximize outputs from given inputs, often through improvements in processes and technology.

Residual Claimants

Individuals who personally receive the excess, if any, of revenues over costs. Residual claimants gain if the firm’s costs are reduced or revenues increase.

Market Wages

The prevailing pay rates for work in a particular market or industry, determined by supply and demand dynamics.

College Graduates

Individuals who have successfully completed a degree program at a college or university.