1. What are qualities of good information (name four items) and briefly explain each quality.
2. Explain the following terms, their purposes and importance to the system development process: Parallel system changeover Validation & Verification
3. Explain 'Financial and Management Information Systems' to an individual who has not studied a business degree.
4. Explain 'traditional absorption costing system' and 'marginal costing system' and clarify how they differentiate from each other.
5. Define and distinguish the terms 'fixed costs' and 'variable costs'. Provide examples.