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Author Question: Which of the following is a difference between fourth-party data sources and other data sources? ... (Read 176 times)

daltonest1984

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on: Jul 6, 2018
Which of the following is a difference between fourth-party data sources and other data sources?
 
  A) Fourth-party data sources do not reflect the actual activity of the subject, whereas the other data sources reflect the actual activity.
  B) Fourth-party data sources are obtained from reference sources, whereas the other data sources are obtained from entities that maintain records regarding the subject.
  C) The other data sources fall within the realm of secondary research, whereas fourth-party data sources fall within the realm of primary research.
  D) The other data sources may have some firsthand knowledge of the subject's activities, whereas fourth-party data sources can only be used to confirm data obtained from other sources.

Question 2

Which of the following is not true?
 a. The capital account would be increased with a debit.
  b. The drawing account would be increased with a debit.
  c. An asset account would be decreased with a credit.
  d. A liability account would be increased with a credit.


tsternbergh47

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Reply #1 on: Jul 6, 2018
Answer to Question 1

A
Explanation: A) Unlike the other data sources, fourth-party data does not reflect the actual activity of the subject. Rather, it is used to gain insight on the environment in which the subject operates, including its local geographic market, its industry, and the broader economy.

Answer to Question 2

A


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