A Mink Coat Retailer Wishes to Locate in Cities That

question 17

Multiple Choice

A mink coat retailer wishes to locate in cities that may offer good market potential for their coats. They need cities with average incomes exceeding $85,000. However, the secondary information source they find has an income category of $70,000 to $100,000. This represents a major disadvantage of secondary data, which is:

• A) different units of measurement.
• B) different class definition.
• C) out of date data.
• D) data having high credibility.
• E) Both a and b.

---

Definitions:

Trial Balance

A bookkeeping worksheet listing the balances of all ledgers in two columns, debits and credits, used to verify the equality of the two totals.

Cash Dividend

A payment made by a company to its shareholders, typically in the form of cash, out of its profits or reserves.

Journalize

The process of recording transactions in a journal, marking the first step in the accounting cycle.

Transactions

The act of buying or selling goods, services, or financial instruments, which can be recorded in the financial records of a business or individual.