Which of the Following Statements About Relevant Information Is/are True

question 69

Multiple Choice

Which of the following statements about relevant information is/are true?
i. An accountant can use past prices, previous market demand and previous cost data to predict future costs when repetitive decisions are made.
ii. No relevant information is available within an organisation's information system for unique decisions.
iii. It is important to segregate relevant data from irrelevant data because it is possible to overload management with information.

• A) i
• B) ii
• C) ii and iii
• D) i and iii

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Definitions:

Obtained By Fraud

Acquisition of property, assets, or benefits through deceptive practices, misrepresentation, or other dishonest means.

Good Faith Purchaser

An individual who buys property without knowledge of any previous claims, fraud, or problems associated with it, thus protected by law.

Computer Sales & Repair (CSR)

Businesses focused on selling computer hardware and software, as well as providing repair and maintenance services for computer systems.

Risk Of Loss

The potential that an asset or investment will decrease in value or become entirely worthless.