Data and information have _______ and are truly _____.

Data and information are essential components of modern organizations, and they hold significant meaning in a business context. When we say that data and information have "business value," it highlights their importance in decision-making processes, strategy development, and overall organizational success. Businesses leverage data to gain insights, optimize operations, and create competitive advantages, affirming that they are indeed valuable assets.

In the context of this question, the term "assets" underscores the idea that data and information, when managed effectively, contribute to the organization's net worth and are instrumental in achieving business objectives. This perspective encourages organizations to treat data with the same level of care and strategy as they would tangible assets, leading to better governance, data quality, and utilization.

While the other options touch on various aspects of data and information, they do not encapsulate the comprehensive value and asset nature that the correct answer does. For example, while risk and expense are relevant considerations, they do not reflect the proactive and constructive framework needed to appreciate the role of data. Similarly, information gaps and liabilities focus on negative aspects rather than the potential and inherent worth of data when properly managed.