Data Must Be Converted into Information to Be Considered Useful

question 12

Multiple Choice

Data must be converted into information to be considered useful and meaningful for decision making.There are seven characteristics that make information both useful and meaningful.If the information is free from error or bias,it is representative of the characteristic of

• A)reliability.
• B)relevance.
• C)verifiability.
• D)truthful.

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Definitions:

Fixed Assets

Fixed assets are long-term tangible pieces of property or equipment that a firm owns and uses in its operations to generate income.

Statement Of Cash Flows

A firm’s financial statement that summarizes its sources and uses of cash over a specified period.

Accounts Receivable

Unpaid customer accounts for delivered goods or services to a company.