Final answer:
The true statement about industry reports is that some are free while others must be purchased. Industry reports should be critically analyzed and tailored to specific business needs, and they can provide valuable insights beyond historical data.
Step-by-step explanation:
Among the statements about industry reports, the true statement is that A) Some industry reports are free and some you are required to purchase. Industry reports are valuable documents that can provide a wealth of information about market trends, competitive analysis, and industry performance. However, they come in different formats, and accessibility can vary. Some reports might be freely available through industry associations, academic institutions, or government agencies, while others are produced by market research firms that charge for access.
It is worth noting that statement B suggests that industry reports should be used without modification, which is not advisable. Every business has unique needs and circumstances, and it's critical to analyze the information and adapt it to the specific context of your business. As for statement C, it implies that any industry report is useful without considering its relevance or accuracy, which is also misleading. Finally, statement D assumes that historical data is a sufficient standalone resource, which overlooks the evolving nature of industries where current and forecasted data from industry reports can provide significant insights beyond historical trends.