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How the value of information received by decision maker
How the value of information received by decision maker eventually begins to decline. This is, maybe, since additional information becomes less relevant, or due to the problems that a decision maker may have in processing the sheer quantity of information provided. Costs of providing the information, though, will increase with every extra piece of information. Broken line indicates the point at which the gap between value of information and the cost of providing that information is at its greatest. This signifies the optimal amount of information which can be provided. This theoretical model, though, poses a number of problems in practice. We will now go on to discuss these. To explain the practical problems of establishing value of information, let's assume that someone has collided with our car in a car park and dented and scraped the paint from one of the doors. We wish to have dent taken out and door resprayed at a local garage. We know that nearest garage would charge £250 however believe that other local garages may offer to do the job for a lower price. Only way of finding out the prices at other garages is to visit them, so that they can see extent of the damage. Visiting the garages will include using some petrol and will take up some of our time. Is it worth the cost of finding out the price for job at the different local garages? The answer, as we have seen, is that if cost of discovering the price is less than potential benefit, it's worth having that information.
WyseFinance maintains a non-current asset register for recording information for non-current assets for a business. The business is registered for VAT. The following is a purcha
Prove that accounting equation is satisfied in all the following transactions of Mr.X 1. Commenced business with cash - Rs.80,000 2. Pu
Consider the expected return and standard deviation of the following two assets: Asset 1: E[r1]=0.1 und σ1=0.3 Asset 2: E[r2]=0.2 und σ2=0.4 (a) Draw (e.g. with Excel) the
what are the activities?
The assets and liabilities of Toronto Service Inc. as of December 31, 2008, and revenue and expenses for the year ended December 31, 2008 are listed below: Accounts
received 16,000 contribution in exchange for common stock
SETTLEMENT OF LIABILITIES Wide powers of compromise are granted to trustees by the Trustee Act. Two or more trustees or a sole trustee, where authorised, may: 1. Pay or allow
1. Complete a horizontal analysis using the dollar and percent change in the following items from the preceding year to the current year: (one typed page: use a table format with f
Q. Estimate cost of equity using market values? The cost of equity as well as cost of debt should always be estimated using market values. If the approximate cash flows of a
Circumstances under which a subsidiary company can be excluded from consolidation Consolidated financial statements shall include all subsidiaries of the parent A parent need
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