ECONOMICS

COST ACCOUNTING

INFORMATION FOR DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Information and raw data are the same thing.
A
True
B
False
Explanation: 

Detailed explanation-1: -False. Data is simply a raw material when it is processed, organized, structured, or presented in a proper way, it becomes information. So, data and information are different things.

Detailed explanation-2: -Data is raw, unorganized facts that need to be processed. Data can be something simple and seemingly random and useless until it is organized. When data is processed, organized, structured or presented in a given context so as to make it useful, it is called information.

Detailed explanation-3: -Data is a collection of facts and figures. Information is something that we get when we analyze data.

Detailed explanation-4: -The Raw Facts and Figures are Called Data. The word raw means that the facts have not yet been processed to get their exact meaning. Data is collected from different sources. It is collected for different purposes. Data may consist of numbers, characters, symbols or pictures etc.

Detailed explanation-5: -Explanation : Data is processed into information. Information is not processed into data. 2. False.

There is 1 question to complete.