ACCA Applied Knowledge · Management Accounting · Sources of data
A manufacturing company wants to estimate customer satisfaction with a new product. It sends its own questionnaire to 500 customers and analyses the responses. Which type of data does the company collect?
The company collects primary data. It gathers the information first-hand through its own questionnaire for a specific purpose, rather than using data previously collected by others, which would be secondary data.
- APrimary dataCorrect
- BSecondary data
- CTertiary data
- DDerived data from published sources
Explanation
Data collected first-hand by the organisation for its own specific purpose, such as through its own questionnaire, is primary data. Secondary data already exists, having been collected by someone else for another purpose.
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