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1 month ago

How does information become knowledge?.

Business

1 answer:

Helga [31]1 month ago

6 0

Information becomes knowledge when it is compiled or applied to better comprehend something or carry out an action.

<h3>Why is knowledge derived from information?</h3>

Information is derived from data in the same manner that data are derived from information. It could be interpreted as comprehending data according on how important or pertinent it is to a certain topic. It can also be viewed as a person's breadth of knowledge.
Knowledge, which you get through experience or study, is awareness, comprehension, or a skill. Information is the specifics or facts about a topic. Information is what you can know, and knowledge is the knowing of something. Here are some use examples for each word.
The diverse types of knowledge are shared and transformed through practise, cooperation, interaction, and education. In addition, pertinent data and information that can enhance judgments and act as building blocks for the development of new knowledge are supportive of knowledge creation.

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Joe and Michelle have a partnership firm. Based on the income-based method of calculating GDP, what category is the income earne

tekilochka [14]

Answer: B) employee’s compensation.

The income approach to measure gross domestic product or GDP starts with the income earned (wages plus plus rents plus interest plus profits) from the production of goods and services.

Based on the income-based method of calculating GDP, income or wages earned by Joe and Michelle for being partners can be categorized under B) employee’s compensation.

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2 years ago

What factors caused american business to develop into a mixed economic system rather than some other type of economic system?

Ksivusya [100]

The economic system in the USA is rooted in the Laissez-Faire capitalism of Adam Smith. However, the real-world setting in the US is not as Laissez-Faire as Smith would have liked because the government greatly participates as more than umpire and rule maker. The government take part in American Business by way of resource or product markets, interest, and especially taxes which results in making the American business progressed into a mixed economy, showing both elements of capitalism and socialism.

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2 years ago

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Mercury Inc. purchased equipment in 2019 at a cost of $400,000. The equipment was expected to produce 700,000 units over the nex

Wittaler [7]

Answer:

See explanation section

Explanation:

We know,

Annual depreciation rate under Units-of-production = Depreciable amount/Overall (expected) production

Given,

Purchase value = $400,000

Residual value = $50,000

Expected production = 700,000 units

Depreciable Amount = $(400,000 - 50,000) = $350,000

Annual depreciation rate = $350,000/700,000

Depreciation rate = $0.50

Thrrefore, Accumulated depreciation from 2019 to 2021 = (100,000 + 160,000 + 80,000)*$0.50

= $170,000

We know, Book value of asset = Cost price - Accumulated depreciation

Book value = $400,000 - $170,000 = $230,000

Again, Loss on sale of equipment = Book value - Sales price

Loss on sale of equipment = $230,000 - $210,000

Loss on sale of equipment = $20,000

The journal entry to record the sale =

Debit Cash $210,000

Debit Accumulated Depreciation $170,000

Debit Loss on sale $20,000

Credit Equipment $400,000

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2 years ago

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1 month ago

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2 years ago