Discuss the Four Basic Types of Communication Media in Order

question 88

Essay

Discuss the four basic types of communication media in order of information richness, from most rich to least rich, along with the relative advantages and disadvantages of each. Give examples of how and when each might be used most effectively.

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Definitions:

Sales Receipts

Documents that provide proof of a transaction between a seller and a buyer, indicating the exchange of goods or services for payment.

Bank Statements

Financial statements issued by a bank detailing the transactions in a depositor's account over a certain period.

Chart of Accounts

A listing of all the accounts in a business's general ledger, which includes assets, liabilities, revenue, expenses, and equity.

Identification Numbers

Unique numerical codes assigned to entities for identification purposes, such as Social Security numbers for individuals or EINs for businesses in the U.S.