Which of the Following Is a Difference Between Primary Data

question 84

Multiple Choice

Which of the following is a difference between primary data and secondary data?

• A) Primary data is inexpensive to gather,while secondary data is expensive to gather.
• B) Primary data can be maintained in secrecy,while secondary data is usually available to all interested parties for relatively small fees or free.
• C) Primary data is outdated,whereas secondary data is current and has known sources.
• D) Primary data is data that has been previously collected,while secondary data is data that is collected for the first time.

---

Definitions:

Margin Of Safety

The difference between the actual or expected profitability of a project and the break-even point, often used as a risk assessment measure.

Contribution Format

An income statement format that separates fixed and variable costs, highlighting the contribution margin.

Income Statement

An accounting document reflecting a business's earnings, outlays, and gains for a particular period.

Tile Manufacturer

A company specializing in the production of tiles, which are pieces of hard-wearing material such as ceramic, stone, or metal used for covering roofs, floors, walls, or other objects.