If perfectly accurate and relevant information is not available for decision making, the accountant should consider using information that is _____.
A)precise but irrelevant
B)imprecise but irrelevant
C)imprecise but relevant
D)all of these answers are correct

Question

Quizplus · Accepted Answer

When accurate and relevant information is not available, it is better to use imprecise but relevant information than precise but irrelevant information. This is because imprecise but relevant information can provide some guidance for decision making, while precise but irrelevant information may lead to incorrect decisions. Therefore, option C is the best choice. Option A is incorrect because precise but irrelevant information does not provide any guidance for decision making. Option B is incorrect because imprecise and irrelevant information is not useful for decision making. Option D is incorrect because options A and B are not correct.

If Perfectly Accurate and Relevant Information Is Not Available for Decision