Which of the Following Statements Best Describes Secondary Data

question 113

Multiple Choice

Which of the following statements best describes secondary data?

• A) Secondary data are pieces of information that have been collected prior to the start of the focal research project.
• B) Secondary data are those data collected to address specific research needs.
• C) Secondary data collection is always extremely time consuming and expensive.
• D) Secondary data will always meet the researchers' needs.
• E) None of these

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Definitions:

Equity

The value of an owner's interest in a company, calculated as the difference between the company's assets and liabilities.

Assets

Economic resources owned or controlled by a business or individual that are expected to bring future benefits.

Liabilities

Financial obligations or debts a company owes to others that must be paid in the future.

Assets

Resources owned by a business or individual that have economic value.