Which of the Following Statements Is True of the Fourth

question 24

Multiple Choice

Which of the following statements is True of the fourth step in the data coding process, where a coded value is assigned to each response?

• A) It follows the data entry phase of data preparation.
• B) It is the step where omissions are either coded or left out.
• C) It is necessary if an optical scanning approach is used to enter data.
• D) It is tedious because it is done manually.
• E) It precedes the data validation phase of data preparation.

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Definitions:

Insurance Contract

A legal agreement between an insurance company and the policyholder, which specifies the terms for the payment of insurance benefits.

Default

Failure to fulfill a financial obligation, especially failing to make payments on a loan, bond, or other debt instrument.

Nonfinancial Businesses

Companies primarily engaged in activities other than financial services, such as manufacturing, services, or retail.

Marketable Securities

Financial instruments that can be easily converted into cash, such as stocks, bonds, and Treasury bills.