To Minimize Waste and Mistakes, Organizations Often Develop and Implement

question 15

Multiple Choice

To minimize waste and mistakes, organizations often develop and implement policies and procedures which focus on: ________.

• A)​the use of data editing to ensure data accuracy and completeness
• B)​the assignment of clear responsibility for data accuracy within each information system
• C) ​the implementation of source data automation
• D) ​all of these answers

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Definitions:

Utility Function

A formulation used in economics to depict how different combinations of goods or services yield varying levels of happiness or utility to an individual.

Risk Neutral

A description of an individual or entity that does not show a preference for risk, valuing all investments purely by their expected return without concern for their risk.

Risk Averse

A description of an individual or entity that prefers outcomes with lower uncertainty and is less likely to engage in actions with uncertain outcomes.

Income

The money or earnings received by an individual or organization, often from employment, business, investments, or other sources.