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Describe Accurate Information

question 43

Essay

Describe accurate information.Why is an information system providing accurate information crucial to an organisation?


Definitions:

Value-based Pricing

A pricing strategy where the price is set based on the perceived value of the product or service to the customer rather than on the cost of the product or market prices.

Preventive Maintenance

Regular and routine maintenance performed on equipment and machinery to prevent unexpected failures and downtime.

Value-based Pricing

A pricing strategy where the price is based on the perceived or estimated value of a product or service to the customer, rather than the cost of production.

Operating Costs

Expenses associated with the normal business operations, including cost of goods sold and operational overhead.

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