What Is Tacit Knowledge

question 11

Multiple Choice

What is tacit knowledge?

• A)Knowledge that is difficult to transfer to another person through books or talking; it must be shown
• B)Formal knowledge that is easy to transfer to another person through books or talking
• C)New knowledge to be transferred
• D)Informal knowledge

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Definitions:

Operating Lease

A lease agreement for short-term leasing of assets without transferring ownership rights.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a basis for computing rates of return and evaluating its capital structure.

Financial Lease

A type of lease wherein the lessee has possession and control of an asset during its significant life but does not own the asset, effectively treating it as a loan with asset as collateral.

CRA

In the context of Canadian taxation, CRA stands for Canada Revenue Agency, the federal agency responsible for tax collection and enforcement.