Secondary Data Can Be Divided into Two Parts-_________ and _________

question 84

Multiple Choice

Secondary data can be divided into two parts-_________ and _________.

• A)primary data; empirical data
• B)empirical data; secondary data
• C)secondary data; demographic data
• D)demographic data; observational data
• E)internal data; external secondary data

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Definitions:

Sales Budget

An estimate of future sales, often broken down into units and revenue, used for planning and control purposes within a business.

Budget

An estimation of revenue and expenses over a specified future period of time, used for financial planning and control.

Good Management

The effective and efficient administration of a company's resources, leading to the achievement of organizational goals.

Participative Budgeting

A budgeting process where employees at all levels are involved in the development of the budget, enhancing commitment and understanding of financial goals.