Which of the following statements below shows the contrast between data and information?
A) Data is the primary output of an accounting information system.
B) Information is the primary output of an accounting information system.
C) Data is more useful in decision making than information.
D) Data and information are the same.
Answer: B
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Laura is an investor and a limited partner in a limited partnership
Two years after she becomes a limited partner, Laura thinks that the general partners are not doing a very good job managing the affairs of the limited partnership and participates in the management of the limited partnership. While she is participating in management, a bank loans $1 million to the limited partnership, believing that Laura is a general partner. If the limited partnership defaults on the $1 million loan, which of the following holds well? A) Laura is not personally liable as she is a limited partner on paper. B) Laura is personally liable if the bank, in good faith, thought she was a general partner. C) Laura has unlimited personal liability as a limited partner. D) Laura's liability is restricted to the value of her capital investment in the partnership.
A disadvantage of using a suite with synchronized modules is that ________
A) they have high switching costs B) the bridges between modules can be fragile C) there is no consistency across the modules D) required information will appear only in one system