The Purpose for Which Data Is Collected Is Known as

question 13

Multiple Choice

The purpose for which data is collected is known as

• A) data application.
• B) data collection.
• C) data warehousing.
• D) data validity.

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Definitions:

Cost Driver

A factor that influences or contributes to the expense of certain business operations.

Direct Costs

Costs that can be directly attributed to the production of a specific good or service, such as raw materials and direct labor.

Allocation Base

A measure or statistic used to distribute indirect costs to different cost objects, such as departments or products.

Overhead Costs

Expenses related to the day-to-day running of a business that cannot be directly attributed to creating a product or service, such as rent, utilities, and insurance.