Primary Data Consist of ________

question 120

Multiple Choice

Primary data consist of ________.

• A) data that does not age
• B) data obtained from the public domain
• C) information collected for the specific purpose at hand
• D) information that already exists somewhere, having been collected for another purpose
• E) information that is the least expensive and the easiest to obtain

---

Definitions:

Transposition

The error of switching the order of digits in numbers, often leading to inaccuracies in financial or data records.

General Ledger

A comprehensive record of all financial transactions over the life of a company, used to prepare financial statements.

Nominal Account

An accounting ledger account that starts each new accounting period with a zero balance and ends with a closed balance to transfer to a real account.