Which method of checking if a variable has been initialized is better/correct? (Assuming the variable could hold anything (string, int, object, function, etc.))
It is difficult to distinguish between undefined and null. Null is a value you can assign to a variable when you want to indicate that the variable has no particular value. Undefined is a special value which will be the default value of unassigned variables.
var _undefined;
var _null = null;
alert(_undefined);
alert(_null);
alert(_undefined == _null);
alert(_undefined === _null);