What Is the Difference Between Information Technology and Information Systems

question 75

Essay

What is the difference between information technology and information systems? Describe some of the functions of information systems.

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Definitions:

Unit Product Cost

The total cost (both fixed and variable) associated with a product, divided by the number of units produced.

Year 2

Often refers to the second year of operation, study, or analysis in various contexts, particularly in financial and academic settings.

Absorption Costing

A technique in financial accounting that involves accumulating all costs of production, namely direct materials, direct labor, and overhead (both fixed and variable), into the cost base of a product.

Net Operating Income

This is the total profit of a company after operating expenses are subtracted from operating revenues but before income from investments and taxes are considered.