Martin Has Determined Exactly What Information He Needs to Assess

question 3

Multiple Choice

Martin has determined exactly what information he needs to assess worker productivity.He has collected the appropriate data necessary to produce the relevant information.What should Martin do next?

• A)transmit the information
• B)determine the quality of the data
• C)use the information to assess productivity
• D)summarize and analyze the data
• E)evaluate the cost of the data

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Definitions:

Perpetual Inventory System

A system of maintaining inventory records that updates the balance of inventory after each purchase or sale in real time.

Ending Inventory

The total monetary value of products available for transaction at the end of a financial cycle.

Inventory Error

Mistakes or inaccuracies in counting or valuing inventory that can affect financial statements and business decisions.

Cost of Goods Sold

Costs directly linked to creating goods for sale within a business, such as labor and materials.