Information Is

question 69

Multiple Choice

Information is

• A) basically the same as data.
• B) raw facts about transactions.
• C) potentially useful facts when processed in a timely manner.
• D) data that has been organized and processed so that it's meaningful.

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Definitions:

Additional Paid-in Capital

Additional paid-in capital is the amount of money shareholders have invested in the company above the par value of the shares, representing excess capital that is not classified as profit.

Shareholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities.

Balance Sheet

A financial statement that shows a company’s assets, liabilities, and shareholders' equity at a specific point in time.

Continuity Assumption

A fundamental accounting principle assuming that a business will continue to operate indefinitely, maintaining its financial and operational policies without the intention or necessity of liquidation.