Table 1-1

Reference

Question

Relevant Reliable Complete Timely Understandable Verifiable Accessible Reduces uncertainty, improves decision making, or confirms or corrects prior expectations. Free from error or bias; accurately represents organization events or activities. Does not omit important aspects of the events or activities it measures. Provided in time for decision makers to make decisions. Presented in a useful and intelligible format. Two independent, knowledgeable people produce the same information Available to users when they need it and in a format they can use. Table 1-1 Characteristics of Useful Information Practical Business Comment In a real business situation, both the first and last name of the employee/sales agent would likely appear on the invoice, as a reference point to the customer. We are including only the last name in order to simplify the creation of the invoice form. In addition, commission rates are not likely necessary to show on an invoice that will be given to a customer because that information is likely of no use to a customer (or the seller would not want the customer to know the commission rate because the sales price is set to allow commissions and a profit). We are adding the commission rate strictly for instructional purposes so that students (and the instructor) can review the form to see that the proper sales representative data is pulled from the underlying table. Of the seven characteristics of information in Table 1-1 of your textbook, identify the one that is most applicable to the discussion under "Practical Business Comment on the previous page regarding whether it is necessary to include the commission rate on the invoice. Explain why