Which of the Following Is a Disadvantage of Using Market

question 3

Multiple Choice

Which of the following is a disadvantage of using market tests to forecast sales?

• A) Sophisticated statistical skills are necessary.
• B) A firm's strategy is revealed to its competitors.
• C) Experts are difficult to locate, motivate, and train.
• D) Resulting data is inherently biased and inconsistent.

Recognize the benefits of budgeting and the common pitfalls or misconceptions associated with its effectiveness.

Understand the critical factors in budgeting for service enterprises, including the coordination of materials, equipment, and anticipated services.

Explore the roles of long-range planning and its temporal scope compared to traditional budgeting periods.

Acknowledge the significance of organizational structure, management involvement, and accountability in effective budget planning and evaluation.