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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Accuracy
The following statements relate to management information:
The following statements relate to management information:
1)It should always be provided regardless of its cost
2)It is data that has been processed in such a way as to be meaningful to the person who receives it
3)It should not be provided until it is as detailed and accurate as possible
Which of the above statements is/are true of good management information?
The answer is number 2
My answer is number 2 and 3
Why is number 3 wrong
I thought accuracy is something needed for good information
The question didn’t say the word necesssary either so i thought accuracy also then defintely must be the answer
We do want information to be as accurate as possible, but do not need it to be as detailed as possible – just the level of detail that management need.
Oh okay thank you sir