A cost management system
A)is finalized when the information currently being produced is the same as the information currently desired.
B)can be generically designed to fit the information needs of the majority of domestic (but not global)organizations.
C)must be continuously improved to adapt to changes in an organization's internal and external environment.
D)that has been appropriately designed from gap analysis,does not need to be changed unless there is a change in organizational management or culture.

Question

Quizplus · Accepted Answer

A cost management system must be continuously improved to adapt to changes in an organization's internal and external environment. Business environments are always changing, and the information requirements will change as the organization grows or shrinks, technologies advance, new competitors enter the market, and customer preferences shift. Organizations that do not update their cost management system to fit the changing environment risk providing inaccurate or irrelevant information, which can lead to poor decision-making. Thus, it is essential to continuously improve cost management systems to adapt to these changes.

A Cost Management System