Two Important Advantages of Secondary Data Are That They Are

question 201

Multiple Choice

Two important advantages of secondary data are that they are

• A) inexpensive and up-to-date.
• B) up-to-date and supply all relevant categories of information.
• C) inexpensive or free and save time.
• D) tailor-made to specifications and relatively inexpensive.
• E) highly credible and up-to-date.

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Definitions:

Liability

A financial obligation or responsibility that an individual or entity owes to another, which is required to be settled in the future.

Required Reserve Ratio

The fraction of deposits that banks are required to hold in reserve and not lend out.

Checkable Deposits

Bank account balances that can be easily withdrawn or used for payments through checks, debit cards, or electronic transfers.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over others.