Which of the Following Statements Is True with Respect to Reliability

question 34

Multiple Choice

Which of the following statements is true with respect to reliability of data sources?

• A) First-party data have the highest reliability.
• B) Second-party data may have a higher level of reliability than first-party data.
• C) Third-party data are not very reliable as they can be influenced by the subject.
• D) Fourth-party data are vulnerable to manipulations by subject.

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Definitions:

Revenue Variance

Revenue variance is the difference between actual revenue and budgeted or forecasted revenue, indicating the effectiveness of a company’s sales strategies.

Units Sold

The quantity of products or services sold by a company during a specific period of time.

Selling Price

The amount of money charged for a product or service, or the sum of the value that customers exchange for the benefits of having or using the product or service.

Revenue Variance

The difference between the actual revenue earned and the expected revenue that was budgeted for a specific period.