The following statements have been made about perfect information: Perfect information is when management accountants do not make any errors in their calculations and is achieved through robust spreadsheet design. Perfect information means that the correct decision would always been made, but as this in hindsight it is not useful for calculations. Which of the above statements is/ are true?
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Perfect information in management accounting does not only refer to the absence of errors in calculations. It also implies having complete, accurate, and timely information about all relevant factors that could affect decision-making. Robust spreadsheet design can Show more…
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