There are six basic functions of IT.
1. Capture: Compiling detailed records of activities.
2. Processing: Converting, analyzing, computing and synthesizing all forms of data and information.
3. Generation: Organizing information into a useful form.
4. Storage: Retaining information for further use.
5. Retrieval: Locating and copying stored data or information for further processing or for transmission to another user.
6. Transmission: Distributing information over a communication network.
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Around seven billion people
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A fixed expense is an expense that has a constant total expense value (the total amount of the fixed expense) that remains the same (does not change) when there is a change in the number being managed, manufactured, or sold
Examples of fixed expense includes; depreciation of assets, salaries of workers, payment for rental lease, and some utility payment, such as road users toll fees payment at a toll gate
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