Many Organisations Find Themselves in the Position of Being Data

question 33

True/False

Many organisations find themselves in the position of being data rich and information poor.Even in today's electronic world,managers struggle with the challenge of turning their business data into business intelligence.

---

Definitions:

Departmental Gross Profit

The gross profit of a specific department within a store or company, calculated by subtracting the cost of goods sold in that department from its sales revenue.

Assets

Properties (resources) of value owned by a business (cash, supplies, equipment, land).

Liabilities

Obligations that come due in the future. Liabilities are the financial rights or claims of creditors to assets.

Departmental Accounting

An accounting method that tracks the income and expenses of individual departments within a company, helping in performance assessment and budgeting.