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Question 1: Data that describe characteristics of entities (such as persons, places, companies) at a given
moment in time is called:
A. a time-series data.
B. a database.
C. cross-sectional data.
Correct Answer: C
Explanation: Cross-sectional data are data that describe characteristics of entities (such as persons,
places, and companies) at a given moment in time. A balance sheet is just one example of cross
sectional
data. A census is also an example of cross-sectional data.
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