Elance Exams Answers PDF file

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What is the difference between Mage::getModel() and Mage::getSingleton()?

Mage::getModel() creates a new object every time it is being called while Mage::getSingleton() check for the existing object. If it exists, it returns that object otherwise creates a new one
Mage::getModel() and Mage::getSingleton() both creates an object of model class. So, there is no difference
Mage::getModel() creates an object of model class while Mage::getSingleton() creates an object of singleton class
Mage::getModel() can be called anywhere while Mage::getSingleton can be called only at specific places.
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