Question:
What is meant by 'Data', 'Information' and 'Transaction' ?
What is meant by 'Data', 'Information' and 'Transaction' ?
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Data becomes information when processed. Transactions are always recorded events.
Updated On: Jan 14, 2026
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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.
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