Accountancy, asked by ranapraveen233, 3 months ago

what do you mean by "efficiency"?

Answers

Answered by hussainhussian

Answer:

Efficiency signifies a peak level of performance that uses the least amount of inputs to achieve the highest amount of output. Efficiency requires reducing the number of unnecessary resources used to produce a given output including personal time and energy. It is a measurable concept that can be determined using the ratio of useful output to total input. It minimizes the waste of resources such as physical materials, energy, and time while accomplishing the desired output.

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