Which of the Following Is a Difference Between Fourth-Party Data

question 49

Multiple Choice

Which of the following is a difference between fourth-party data sources and other data sources?

• A) Fourth-party data sources do not reflect the actual activity of the subject, whereas the other data sources reflect the actual activity.
• B) Fourth-party data sources are obtained from reference sources, whereas the other data sources are obtained from entities that maintain records regarding the subject.
• C) The other data sources fall within the realm of secondary research, whereas fourth-party data sources fall within the realm of primary research.
• D) The other data sources may have some firsthand knowledge of the subject's activities, whereas fourth-party data sources can only be used to confirm data obtained from other sources.

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Definitions:

Journal Entries

Records of financial transactions in the accounting system that are used to transfer amounts from one account to another, reflecting the financial effects of business transactions.

Accident Insurance

Accident Insurance is a type of policy providing financial compensation to the insured in case of injuries, disability, or death caused solely by accidental means.

Accrued Salaries

These are wages that have been earned by employees but have not yet been paid by the employer.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting its consumption or wear and tear.