Differentiate Between Primary and Secondary Research

question 77

Essay

Differentiate between primary and secondary research.Explain why a scenario where only a primary research would suffice will never occur.If you had to conduct an analysis in a large organization regarding certain policy changes,which primary research method would you adopt and why?

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Definitions:

Inventory

Assets held for sale in the ordinary course of business, or materials and supplies that are used in the production process to manufacture goods.

Customer List

A record or database containing information about a business's customers, including their contact information, purchase history, and preferences.

Impairment Losses

Financial losses recognized when the carrying amount of an asset exceeds its recoverable amount.

Amortization

The systematic reduction of the value of an intangible asset over its useful life to reflect its declining value or the allocation of the cost of an intangible asset over a period of time.