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A firm is considering the introduction of a new product. Internal and external data have been collected to support the decision making :
1) Labor costs have been estimated by the works study department.
2) Raw Material costs have been estimated from quotations obtained from current and potential suppliers
3) Demand has been estimated using economic forecasts published monthly by a Trade Association Journal.Which of the above are examples of PRIMARY DATA SOURCES ?
1) 1,2 and 3
2) 1 Only
3) 2 Only
4) 1 and 2 Only
5) 2 and 3 Only
6) 1 and 3 OnlySIR KINDLY LET ME KNOW THE CORRECT ANSWER FOR IT AND SHORT REASON PLEASE.
Why are you attempting questions for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers.
You can find the answer and the reasons in my free lectures on the sources of data.
Sir I listened to your lecture TWICE, But unfortunately my concept is not enough clear and I am not able to get the correct answer for above question.
Kindly Let me know the correct answer for above question with some short reason so it may clear my concept and please let me know that work study department is internal or external source ?Many thanks
Again, why are you attempting a question for which you do not have an answer?
The works study department will be a primary source because they are collecting the date for the specific purpose. The same applies to the raw material costs.
Hi SIR,
I had passed my exam today by getting good marks, thanks for your consistent help during the preparation for my exam, Thank you very muchA question came in my exam as follows :
Which of the following would be problems when measuring the performance of a non-profit seeking publicly funded hospital that does not charge for it’s services at the point of consumption ?1) Multiple conflicting objectives
2) Measuring the value of outputs1) 2 only
2) 1 only
3) Both 1 and 2
4) Neither 1 nor 2Please confirm me the answer for this one, I will be very thankful to you.
You posted the same yesterday and I answered you yesterday 🙂
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