Which of the following is true about secondary data?
A) It is always current and, unlike primary data, it does not have to be updated.
B) Unlike primary data, it can be obtained by using direct surveys and questionnaires by the company.
C) It cannot provide extra information a company is looking for.
D) It can be obtained more quickly and at a lower cost than primary data.
E) It requires more effort compared to gathering primary data.

Question

Quizplus · Accepted Answer

Secondary data refers to data that has been collected and compiled by someone else for a different purpose. The given options indicate certain features of secondary data. Option A is incorrect because secondary data may not always be current and may require updating. Option B is incorrect because direct surveys and questionnaires are used to collect primary data, not secondary data. Option C is incorrect because secondary data can provide additional information, but it may not always be directly relevant to the company's specific research questions. Option E is incorrect because gathering primary data requires more effort than using existing secondary data. Option D is the correct answer because secondary data can be obtained more quickly and at a lower cost than primary data, as it does not require the time and resources necessary to collect new data from scratch.

Which of the Following Is True About Secondary Data