A Major Disadvantage of Primary Data Collection Is

question 64

Multiple Choice

A major disadvantage of primary data collection is

• A) it can only be accessed through syndicated databases or unstructured data mines.
• B) it cannot be tailored to meet specific research needs.
• C) it takes more time to collect than secondary data and is more costly.
• D) it is too general to meet researchers' and managers' needs.
• E) it does not offer behavioral insights that can be obtained from secondary data.

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Definitions:

Product Cost Distortions

Refers to the inaccuracies or misallocations of costs to products, leading to incorrect product costing and pricing.

Non-manufacturing Costs

Expenses incurred by a company that are not directly related to the production of goods, including administrative and marketing costs.

Activity-based Costing

A method of costing that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Reported Product Costs

Costs associated with the production of goods that are documented and presented in financial statements, including materials, labor, and overhead expenses.