Question

What are the different types of quantitative data used in financial and nonfinancial decision making for planning and controlling?

1) Primary and secondary data
2) Qualitative and quantitative data
3) Internal and external data
4) Financial and nonfinancial data

Answer 1

The different types of quantitative data used in financial and nonfinancial decision making for planning and controlling are primary and secondary data, qualitative and quantitative data, internal and external data, and financial and nonfinancial data.

Step-by-step explanation:

Quantitative data used in financial and nonfinancial decision making for planning and controlling can be categorized into different types:

1. Primary and secondary data: Primary data is collected directly from original sources, while secondary data is obtained from existing sources.
2. Qualitative and quantitative data: Qualitative data consists of non-numeric information, while quantitative data is numeric and can be counted or measured.
3. Internal and external data: Internal data is generated within an organization, while external data is acquired from outside sources.
4. Financial and nonfinancial data: Financial data represents monetary transactions and measurements, while nonfinancial data includes non-monetary measures like customer satisfaction scores or employee productivity.