How Do Data and Information Differ

question 19

Multiple Choice

How do data and information differ?

• A)data are a body of facts in a format suitable for decision making,while information is simply facts
• B)they are the same
• C)data are simply facts; information is a body of facts in a format suitable for decision making
• D)data are associated with decision support systems; information is associated with ERP systems

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Definitions:

Collection Float

The amount of time it takes for money from checks or other types of payments to be processed and available in the company’s account.

Disbursement Float

The interval between the issuance of a check and the actual deduction of the amount from the issuer's account.

Lockbox System

A service provided by banks to companies for the collection of payments from customers, whereby payments are sent to a special post office box instead of to the company.

Cash Concentration Account

A bank account used by companies to consolidate and manage cash from multiple locations or accounts, improving liquidity management.