Can someone please help me in explaining what is the importance of accuracy in minute taking

Also I need help on the use of targets and budgets to manage workload

No, sorry, this is homework, and far too broad. Sounds like you are starting a new course. Take a deep breath, read the material, and use common sense on the questions above. There are no precise answers.
Envision yourself in a meeting of the board where minutes are being taken.
Envision yourself with a heavy workload. You have deadlines to meet (targets needed) and a limit to what you can spend.
Scribble preliminary notes, outlines, down your page, just ideas, fragments of ideas.
Put it all together at the end.