Which of the Following Is an Advantage of Primary Data

question 145

Multiple Choice

Which of the following is an advantage of primary data?

• A)Gathering primary data is less expensive than gathering secondary data.
• B)Primary data answer specific research questions that secondary data cannot answer.
• C)Primary data consist of data that are easily available to any interested party.
• D)Conducting in-person interviews is an expensive method of gathering primary data.

Recognize the definition, creation, and consequences of accounts payable and accounts receivable.

Grasp the concept of financial statements and their importance in displaying a company's financial position and performance.

Comprehend how changes in assets, liabilities, and stockholders' equity affect a company's financial statements.

Interpret the significance of financial accounting standards and their global applicability.

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Definitions:

Rank Assigned

A method of assigning ordinal positions to items that are being compared, such as in the sorting of data.

Nonparametric Tests

Statistical tests that do not assume a specific distribution in the data.

Nominal Data

Data categorized without a natural order or rank, such as names, labels, or categories.

Ordinal Data

Data that can be categorized into a defined order or ranking, but the intervals between the categories are not necessarily consistent.