Which of the Following Is TRUE

question 2

Multiple Choice

Which of the following is TRUE?

• A)The first step in searching published sources of secondary data is to consult a reference librarian.
• B)One key source of secondary information is the trade association,particularly since it is often able to obtain information from members that might not be available elsewhere.
• C)The primary advantage of on-line database searching is access to information not available in any other format.
• D)The main disadvantage of using standardized marketing information services over primary data is that the data are not as accurate.
• E)They are all false.

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Definitions:

Unearned Insurance Revenue

Income received by an insurance company for policies that have been paid in advance but the service has not yet been provided or earned.

Insurance Policy

A contract between an individual or entity and an insurance company, detailing the terms for payment of losses or damages covered by the policy.

Sales Taxes Payable

Liabilities recorded on the balance sheet for sales tax collected from customers on behalf of governmental entities, to be remitted in the future.

Sales Tax Expense

The cost incurred by a business collecting sales tax from customers, which is then remitted to the government, not to be confused with a direct business expense.