Explain the relationship between the terms data and information
What will be an ideal response?
The term data refers to facts that are recorded and can be accessed. The data is recorded and kept because it is considered to be of use to an intended user. The term information refers to the data that is accessed by a user for some particular purpose. Typically, getting the needed information from a collection of data requires performing an activity, such as searching through, processing, or manipulating the data in some form or fashion. The terms data and information are often interchanged and used as synonyms for each other. Such practice is very common and is not necessarily wrong, since information is simply the data that we need. If the data that an organization gathers and stores has a purpose and satisfies a user's need, then such data is also information.
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In general, the effective rate of interest on a discount loan
a. is lower than that on standard loan b. is higher than that on a standard loan c. is identical to that on a standard loan d. none of the above
Which of the following are duties an agent I was to a principal?
A. Accounting for money and property that comes into the agents possession on behalf of the principal. B. Disclosing all material facts to the principal. C. Absolute loyalty. D. All of these.