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Define Data and Information and Provide an Example That Differentiates

question 11

Essay

Define data and information and provide an example that differentiates between the two. Explain why information is so important to managers.


Definitions:

Salvage Value

The estimated residual value of an asset after it has reached the end of its useful life.

Working Capital

The gap between an enterprise's immediate assets and liabilities, showcasing the available liquidity for its daily activities.

Pretax Return

The income generated from an investment before the deduction of any taxes.

Sales Revenues

The total income generated from the sale of goods and services by a company before any costs or expenses are deducted.

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