In Order for Information to Be Relevant, the Decision to Be

question 67

Multiple Choice

In order for information to be relevant, the decision to be made must have an effect on:
i. future cost or revenues.
ii. past cost or revenues.
iii. the timeliness of information.

• A) i
• B) ii
• C) iii
• D) i and ii

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Definitions:

Bid

An offer of a certain price for something, especially in contexts like auctions or financial markets, where it reflects the amount a buyer is willing to pay.

English Auction

A type of public auction where bids are openly made and raised until no higher bids are forthcoming, with the highest bidder winning the item.

Rational Self-Interest

The principle that individuals tend to make decisions that they believe are best for themselves, maximizing their own utility.

Values

The principles or standards of behavior that are regarded as important in making decisions or judgments.