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Efficiency and Effectives of Expenditure Cycle Processes

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Please help answer the following questions about management information systems.

Management must be able to monitor and evaluate the efficiency and effectiveness of expenditure cycle processes. To be useful for decision making, the data must be accurate, reliable, and timely. Why are all the three qualities of data required?

Select from one key decision that management must make with regard to the expenditure cycle. What data is required for arriving at the key decision?

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This solution discusses the importance of three qualities of data required for evaluating expenditure cycle. The explanation is given in 180 words.

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Problems: Management must be able to monitor and evaluate the efficiency and effectiveness of expenditure cycle processes. To be useful for decision making, the data must be accurate, reliable, and timely. Why are all the three qualities of data required? Select from one key decision that management must make with regard to the expenditure cycle. What data is required for arriving at ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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