________Is a Disadvantage of Secondary Research, While ________ Is a Disadvantage

question 5

Multiple Choice

________is a disadvantage of secondary research, while ________ is a disadvantage of primary research.

• A)Cost; outdated information
• B)Time required for collection; sources not original
• C)Potential bias; high cost
• D)Outdated information; information not relevant to data needs
• E)Sophisticated training required to obtain it; potential bias

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Definitions:

Direct Material Costs

Costs of raw materials or parts that directly go into producing products.

Weighted-Average Method

An inventory costing method that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold.

Equivalent Units

A concept used in cost accounting to express the amount of work done on incomplete units in terms of fully completed units.

Finished Goods Inventory

Manufactured products that are complete and ready for sale.