Author Question: Which of the following is true of first-party data? A) These are obtained from published and ... (Read 175 times)

a0266361136 · **on:** Jul 6, 2018

Which of the following is true of first-party data?

A) These are obtained from published and unpublished reference sources.
B) These are obtained from are obtained from entities that maintain records regarding the subject.
C) These are obtained from individuals or entities that are related or connected to the subject.
D) These are obtained from an individual or an entity.

Question 2

List and explain the four items under the umbrella of owner's equity, including whether it increases or decreases overall equity.

dajones82 · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

D
Explanation: D) First-party data are obtained from an individual or an entity. Examples include the subject company in a business valuation, the plaintiff in an economic damages claim, and the victim of a suspected fraud.

Answer to Question 2

Investment Owner provides an asset to business (increase)
Revenue Amounts earned by business (increase)
Expenses Costs of doing business (decrease)
Drawing Owner withdraws from business (decrease)