Facts and Figures That Are Newly Collected for a Project

question 225

Multiple Choice

Facts and figures that are newly collected for a project at hand are referred to as

• A) statistical data.
• B) empirical data.
• C) secondary data.
• D) primary data.
• E) inferential data.

---

Definitions:

Modified Accelerated Cost Recovery System

A method of depreciation in the U.S. tax code that allows for faster asset depreciation in the early years of the asset's life.

U.S. Federal Income Tax

The financial charge imposed annually by the Internal Revenue Service on the income of individuals, corporations, trusts, and various legal entities.

Depreciating Assets

Assets that lose value over time due to use, wear and tear, or obsolescence, such as machinery, vehicles, and buildings.