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

question 20

Multiple Choice

Which of the following is a difference between second-party data and third-party data?

• A) Second-party data are obtained from individuals or entities that are related to the subject, whereas third-party data are obtained from entities that maintain records regarding the subject.
• B) The advantage of second-party data is that it can be obtained independently by the forensic accountant, whereas the advantage of third-party data is that it is outside the subject's ability to manipulate.
• C) Second-party data falls under the realm of primary research, whereas third-party data falls under the realm of secondary research.
• D) Second-party data might require more time to obtain, whereas third-party data are readily available to the forensic accountant.

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Definitions:

Subscription Price

The cost for purchasing a subscription to a service or product, typically charged on a recurring basis.

Ownership Position

A stake or interest that a person or entity holds in a company, typically through the ownership of shares.

Ownership Position

A stake or interest that one holds in a company or property, often reflected by the amount of shares owned or the extent of investment.

Current Market Price

The current price at which an asset or security can be bought or sold in the market.