What Is the Difference Between Data,information,and Knowledge

question 65

Essay

What is the difference between data,information,and knowledge?

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Definitions:

Responsibility Accounting

A system of accounting that segments financial information by areas of responsibility, allowing managers to be accountable for those items under their control.

Management Levels

The different tiers of management within an organization, typically including top-level, middle-level, and lower-level management, each with specific responsibilities.

Decentralization

The distribution of decision-making powers away from a central authority to lower levels in an organization.

Franchise

The right or license granted to an individual or group to market a company’s goods or services.