Question:
What is meant by 'Data', 'Information' and 'Transaction' ?
What is meant by 'Data', 'Information' and 'Transaction' ?
Show Hint
Data becomes information when processed. Transactions are always recorded events.
Updated On: Jul 4, 2025
Hide Solution
Verified By Collegedunia
Solution and Explanation
Data refers to unprocessed facts that alone may not have meaning.
Information is the result of processing data to make it meaningful.
Transaction is an economic activity that affects the financial position of an entity and is recorded in books.
Information is the result of processing data to make it meaningful.
Transaction is an economic activity that affects the financial position of an entity and is recorded in books.
Was this answer helpful?
0
0
Top Questions on Computerised Accounting
- What is meant by ‘Data Validation’? What is facilitated by ‘Error Alert Tab’?
- CBSE CLASS XII - 2025
- Accountancy
- Computerised Accounting
- If a user wishes to change a ‘Text Option’ as an element of chart, how can he/she do so? Explain.
- CBSE CLASS XII - 2025
- Accountancy
- Computerised Accounting
- Which of the following is not an advantage of Computerised Accounting System ?
- CBSE CLASS XII - 2025
- Accountancy
- Computerised Accounting
- Each and every data from Notepad file can be saved as an Excel data file. This provides a lead that Excel worksheet consists of four types of data in cell. Name and state these data types.
- CBSE CLASS XII - 2025
- Accountancy
- Computerised Accounting
- The need for codification is for :
- CBSE CLASS XII - 2025
- Accountancy
- Computerised Accounting
View More Questions
Questions Asked in CBSE CLASS XII exam
- ‘It is an equity-based investment in a growth-oriented small to medium business to enable the investor to accomplish objectives in return for minority shareholding in the business.’ This investment has to be carefully evaluated and analysed by an entrepreneur to find out the stage at which he/she requires this investment to assist in.
(i) Identify the type of capital discussed in the above lines.
(ii) Explain the three stages included in ‘Early Stage Financing’ if the capital identified in (i) above is required at this stage.- CBSE CLASS XII - 2025
- Business Finance
- ‘Royal Fruit Juice Ltd.’ are the manufacturers of different types of fruit juices. They do not use any artificial flavours in their products. The fixed cost of the production process is Rs. 1,76,000. Given below is information about Mango, Orange and Guava fruit juices.From the above data, calculate the following :
Type of Juice Mango Orange Guava Selling Price (Rs./Litre) 150 135 100 Variable Cost (Rs./Litre) 80 65 60 Sales Mix Percentage 20% 40% 40%
(a) Total weighted average contribution margin per unit.
(b) Break-even point in units of sales mix.
(c) Break-even point (in <) for each type of juice.- CBSE CLASS XII - 2025
- Business Environment
- ‘An affluent individual who provides capital for a business start-up and early stage companies having a high-risk, high-return matrix usually in exchange for convertible debt or ownership equity.’
(i) Identify the source to raise finance available to an entrepreneur discussed in the above lines.
(ii) State any four features of the source of raising finance discussed in (i) above.- CBSE CLASS XII - 2025
- Business Finance
- ‘Good Air Ltd.’ is the manufacturer of different types of electric fans like ceiling fans, table fans, exhaust fans, etc. It wanted to start its operations in the recently electrified rural areas ahead of its competitors. It invested in research and development to adopt new technology so that it could produce energy efficient fans at lower cost. The government was stable for the last many years and was focusing on electrification of rural areas. ‘Good Air Ltd.’ took advantage of this and started its operations. The company complied with health and safety regulations, as well as environmental protection laws, to ensure customer safety. As its policy, the company also assures compensation to its customers in case of an injury or accident due to its fans. Since the disposable income of the people in rural areas was low, the company offered an instalment scheme, making its products more accessible to them. Committed to sustainability, the company ensures that its production causes minimum environmental damage. For this, it focuses on reducing waste by recycling production by-products and using biodegradable packaging materials whenever possible. Quoting lines from the above text, identify five macro environmental factors that the company took into consideration while operating its business.
- CBSE CLASS XII - 2025
- Business Environment
- ‘Bharat Ltd.’ is a manufacturer of electronic items. In 2022 – 23, the company decided to enter into manufacturing Artificial Intelligence-based computers. Being highly complex and tedious, the manufacturing process of these computers needed to be thoroughly planned. (a) Identify the component of business plan discussed in the above paragraph. (b) State the objective of the component identified in (a) above. (c) List five points that are needed to be described in this component of business plan, if the manufacturing is to be carried out in whole by ‘Bharat Ltd.’.
- CBSE CLASS XII - 2025
- Business Strategy
View More Questions