Which of the following terms best describes external sources of information?

The term "Publicly Available" best describes external sources of information because these sources are accessible to the general public and do not require special clearance or permissions to access. This can include information found in published reports, academic journals, industry databases, government publications, and online resources. Utilizing publicly available information is crucial for business research, as it allows decision-makers to gather insights and data from a wide range of external perspectives and contexts.

In contrast, "Privately Held" refers to information that is owned by individuals or companies and is not available to the public, which limits its usefulness as external data. "Top Secret" signifies information that is highly classified and restricted to a select group, making it an inappropriate choice when discussing external sources of information. Lastly, "Internal Documents" pertain to information created and maintained within an organization, which makes it internal rather than external. Thus, "Publicly Available" is the most fitting term for external sources of information.