High Quality Cost Management Systems Should Have an Organization-Wide Perspective

question 59

Multiple Choice

High quality cost management systems should have an organization-wide perspective. Which of the following would NOT be a benefit of a cost management system?

• A)increases speed by ignoring non-financial information
• B)reduces duplicate data storage and use of data
• C)improves timeliness of reports
• D)increases the efficiency of generating reliable and accurate information

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Definitions:

Detail

The small parts or features of something considered individually, often contributing to the overall quality or functionality of the item.

Media types

Various categories of communication tools and platforms, such as print, broadcast, digital, and social media.

Direct feedback

Straightforward, unambiguous information provided to someone about their performance or behavior.

Formal discussion

A structured dialogue or conversation held in a professional setting, often with predefined topics, rules, and goals.