1. Which of the following statements below shows the contrast between data and information? A) Data and information are the same. B) Data is more useful in decision-making than information. C) Data is the output of an AIS. D) Information is the primary output of an AIS. Answer: D Explanation: A) B) C) D) Comment: Diff: 0 Type: MC WS: 0 Var: 1 Page Ref: 24 Created On: May 9 2008 Modified On: May 14 2011 Topic: Skill: Objective: Learning Objective 1 Difficulty : Easy AACSB: Analytic 2. Information is A) potentially useful facts when processed in a timely manner. B) basically the same as data. C) raw facts about transactions. D) data that has been organized and processed so that it's meaningful. Answer: D Explanation: A) B) C) D) Comment: Diff: 0 Type: MC WS: 0 Var: 1 Page Ref: 24 Created On: May 9 2008 Modified On: May 14 2011 Topic: Skill: Objective: Learning Objective 1 Difficulty : Easy AACSB: Analytic 3. The value of information can best be defined as A) the benefits produced by possessing and using the information minus the cost of producing it. B) how useful it is to decision makers. C) how relevant it is. D) the extent to which it maximizes the value chain. Answer: A Explanation: A) B) C) D) Comment: