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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Internal and External Information
Hello Sir, Hope up you are doing well. Can you please answer me in the following question.
Identify by placing a tick in the correct boxes in the table below, whether the information gathered is from an internal or external source.
1) Number of people clicking on the ‘Coming soon’ link on the company’s website
2) How likely one of our customers is to recommend our business to a friend or colleague
3) Share prices of different competitors over time
4)Average household income in Country A in 20X6
Sir, i wanted to know why Statement (2), is an internal source of information.
Because we would be collecting this information from customers who are external to the organisation. So shouldn’t it be an external source of information.
Internal data is data that has been collected specially for our purpose.
External data is data we have got from elsewhere that was not collected specially for our purpose.