Which of the Following Is a Disadvantage of Secondary Data

question 26

Multiple Choice

Which of the following is a disadvantage of secondary data?

• A) It can be obtained at a lower cost than primary data.
• B) It is collected for another purpose.
• C) It is only available through Internet search engines.
• D) It must be purchased from commercial online databases.
• E) It can be obtained quickly.

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Definitions:

Statement

A formal record or document detailing financial activities or conditions, such as an income statement or balance sheet.

Adjusting Entries

Journal entries made at the end of an accounting period to update accounts for accuracies in preparation for financial statement generation.

Preparation

The act or process of making something ready for use or consideration.

Professional

An individual with specialized skills and knowledge in a particular field, typically requiring qualifications and adhering to specific ethical standards.