While Obtaining Secondary Data Before Engaging in Primary Research Offers

question 54

Multiple Choice

While obtaining secondary data before engaging in primary research offers many advantages, it also has some limitations. Which of the following is an example of these limitations?

• A) Secondary data is more expensive to obtain than primary data.
• B) Secondary data takes longer to obtain than primary data.
• C) Secondary data is inappropriate for use in exploratory research.
• D) Secondary data may not be accurate because of errors in gathering or analyzing the data for the original study.
• E) Secondary data makes it challenging to identify difficulties that are likely to arise during the full-scale study.

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Definitions:

Budget Process

A planning process that involves the creation of a financial plan or budget to project future revenues and expenses, guiding an organization's financial decisions.