Which of the Following Statements Concerning Secondary Data Is Correct

question 2

Multiple Choice

Which of the following statements concerning secondary data is correct?

• A)Secondary data usually take longer to obtain than primary data.
• B)Secondary data are only available within the firm.
• C)Secondary data were originally collected for some other purpose.
• D)Secondary data may provide some background but never provide the answer.
• E)None of these answers is correct.

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Definitions:

PMT Function

It is a financial function that calculates the payment for a loan based on constant payments and a constant interest rate.

Rate

A measure or quantity considered in relation to another quantity or measure, often used to describe the speed, frequency, or cost of something.

Nper

A financial function that calculates the number of payment periods for an investment or loan based on constant payments and constant interest rates.

Fv

Future value; a finance function used to calculate the future value of an investment based on periodic, consistent payments and a steady interest rate.