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Accountancy · 2025 · 3 marks
CBSE 2025 · Region 1 · Set 2 · Q32
What is meant by 'Data', 'Information' and Transaction'
Marking-scheme solution
(a)
Data: Data item or data element is the smallest name unit of data in the information system. These are
processed through an accounting software to generate different sets of information in the form of
accounting reports such as journals, etc.
(b)
Information: The information may be viewed as data at one level and when it is processed keeping in
view the requirements of decision maker. It becomes the information at another level.
(c)
Transaction: Transaction consists of four data elements such as name of account, accounting code,
date of transaction and amount. The transaction is a record of inflow and outflow of resources.
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CBSE Class 12 Accountancy past-paper question from the 2025board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.