Which Statement About Primary and Secondary Data Is NOT True

question 10

Multiple Choice

Which statement about primary and secondary data is NOT true?

• A) Because primary data is gathered at its source, it is more reliable than secondary data.
• B) Business researchers often consult secondary data sources before primary data sources.
• C) Census data acquired from the Bureau of the Census is an example of secondary data.
• D) Most business researchers rely on both primary and secondary data.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that are becoming the global standard for the preparation of public company financial statements.

Borrowing Costs

Interest and other costs that an entity incurs in connection with the borrowing of funds.

Development Costs

Costs incurred in the design and implementation of new products or processes, which can often be capitalized and amortized over time.

Actuarial Gains

Increases in the projected benefits of a pension plan resulted from changes in actuarial assumptions or variance from expected experience.