Though Primary Data Can Be Especially Valuable to an Individual

question 167

Multiple Choice

though primary data can be especially valuable to an individual firm,it often plays "second fiddle" to secondary data because

• A) secondary data is much more up-to-date and tailored to a specific firm or industry.
• B) secondary data, although far more expensive, is also much more reliable.
• C) primary data is usually more costly and time consuming to collect.
• D) primary data can be accessed by virtually anyone so the information generated loses much of its value.
• E) primary data is less fact and figure based; it is more subjective and therefore more vulnerable to misinterpretation.

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Definitions:

Land

A natural resource concerning the solid surface of the earth, which is not subject to depreciation.

Machinery and Equipment

Long-term assets used in the operations of a business, not intended for sale, ranging from production machinery to office equipment.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its identifiable net assets.

Patent

A legal right granted by the government to an inventor, giving exclusive ownership of an invention for a certain period of time, prohibiting others from making, using, or selling it.