Data That Has Already Been Collected by Another Researcher for Another

question 83

Multiple Choice

Data that has already been collected by another researcher for another purpose is called which of the following?

• A)Secondary research
• B)Exploratory research
• C)Ad-hoc research
• D)Qualitative research

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Definitions:

Currently Attainable Standard

This refers to a standard or benchmark that can be achieved under current operating conditions with reasonable efficiency.

Unfavorable Cost Variance

A variance that occurs when the actual cost exceeds the standard cost.

Favorable Cost Variance

A variance that occurs when the actual cost is less than standard cost.

Revenue Price Variance

The difference between the actual revenue received from selling a product and the expected revenue, based on standard pricing.