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type of data

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › type of data

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • January 11, 2022 at 9:28 am #645640
    Isabella1
    Member
    • Topics: 42
    • Replies: 20
    • ☆☆

    Hello John,
    I attempted questions in practise kit and got stucked. I would need your help thank you.
    A. Government statics on level of unemployement is secondary data.
    B. Information from a government publication concerning forecast inflation rates is also secondary data.

    I am confused that why these are both considered secondary. Government statics are external source but for business can not generate this information on its own and government information can be used as primarily on our activities. Like Government if gives any wage notification so it (should) be primary data for payroll department.

    January 12, 2022 at 8:22 am #645716
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51538
    • ☆☆☆☆☆

    Businesses use data to help make decisions.

    If the data is collected specifically for the decision being made, then it is primary data.

    If they are using data that had already been collected for some other reason, then it is secondary data.

    Here, they are using data that had been collected by the government for some reason. Therefore it is secondary data.

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