All of us use information to help us make decisions. Information includes facts, ideas, and concepts that help us understand the world. To use information, we must be able to interpret it and understand its limitations. Poor information or the improper use of information often leads to poor decisions. As an example, assume you wish to drive from Sevierville to Waynesville. The drive will take several hours and require several turns on unfamiliar secondary roads. Therefore, you use a map, as illustrated in Exhibit 1, to provide information to help guide you along the way.
Book: Financial Accounting Information for Decisions (Download)
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