Which of the Following Is an Advantage of Primary Data

question 7

Multiple Choice

Which of the following is an advantage of primary data?

• A)​Gathering primary data is less expensive than gathering secondary data. 
• B)They answer specific research questions that secondary data cannot answer.
• C)They consist of data that are easily available to any interested party.
• D)​Conducting in-person interviews is an expensive method of gathering primary data.

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Definitions:

Specific Invoice Method

An accounting method for managing inventory by tracking the cost associated with each specific unit of inventory.

Sale Items

Products that are offered to customers at a reduced price for a promotional or clearance purpose.

Specific Invoice Method

A method used in inventory and cost accounting to specifically track the cost associated with individual inventory items.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor expenses.