A Regional Bank Is Considering Removing All Drive Thru Lanes

question 93

Multiple Choice

A regional bank is considering removing all drive thru lanes and replacing them with ATMs. Which of the following data would be classified as secondary data?

• A) Transcripts from one-on-one interviews the bank previously conducted about ATM features.
• B) Information from banking industry reports.
• C) Data compiled through surveys given to customers that come through the bank's drive thru lanes.
• D) Reports on ATM usage at all of the bank's locations.

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Definitions:

Prepaid Expenses

Expenses paid in advance by a company for goods or services to be received in the future.

Adjusting Process

The procedure used in accounting to record and reconcile expenses and revenues in the appropriate accounting period.

Accrued Expenses

Expenses that have been incurred but not yet paid, recognized on the books before they are paid for.

Accrued Revenues

Revenues earned during a specific accounting period but not yet received in cash or recorded in the books.