Which of the Following Statements About Secondary Data Is True

question 44

Multiple Choice

Which of the following statements about secondary data is true?

• A) It is more expensive to gather than primary data.
• B) Findings are always valid even if they are not always reliable.
• C) It is more time consuming to gather than primary data.
• D) Most of the available information is relevant to the problem at hand.
• E) Information may be out of date and therefore obsolete.

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Definitions:

Net Sales

The net income from sales a business secures, after subtracting the expenses for returned products, allowances for damaged or missing merchandise, and any granted discounts.

Cost of Goods Sold

Cost of goods sold represents the direct expenses related to the production of goods that a company sells, including materials and labor.

Gross Profit Rate

A financial metric indicating the proportion of money left from revenues after accounting for the cost of goods sold.

Sales Revenue

The gross revenue of a company refers to the entire sum of income derived from selling products or services before deducting any costs.