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Knowledge That an Individual Has but That Is Difficult to Express

question 73

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Knowledge that an individual has but that is difficult to express clearly in words,pictures,or formulas,and therefore difficult to transmit to others,is called explicit knowledge.


Definitions:

Payment Schedule

A predetermined plan outlining the specific dates and amounts for payments to be made by one party to another, often used in billing and financial agreements.

Charges

Fee for services rendered.

Double-Entry Bookkeeping System

A bookkeeping method in which every transaction is entered twice, to two separate accounts, with one being a debit and the other a credit, to maintain the balance of the accounting equation.

Single-Entry System

A simple accounting system where each transaction is recorded with a single entry, typically used by small businesses or for personal finances.

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