All questions of Collection of Data for Commerce Exam

Statistics is the subject which deals with analysing economic problem and formulating policies using quantitative data.

Introduction:
The decennial publication of the government of India that contains data regarding various aspects of demographic changes in India is the Census.

Explanation:
The Census is a detailed and comprehensive survey conducted by the government of India every ten years. It collects, analyzes, and presents data on various demographic, social, and economic aspects of the country. The Census provides valuable information about the population, including its size, growth rate, distribution, and composition.

Key Points:
Here are some key points about the Census of India:

1. Purpose: The primary objective of the Census is to gather accurate data about the population of India. This data helps in planning and implementing various government policies and programs.

2. Conducted by: The Census is conducted by the Office of the Registrar General and Census Commissioner, India, which operates under the Ministry of Home Affairs. The Commissioner is responsible for the overall conduct and management of the Census.

3. Data Collection: The Census collects data through a door-to-door survey, where enumerators visit every household and record information about individuals and households. The data collected includes details such as age, sex, marital status, educational qualifications, occupation, and more.

4. Demographic Information: The Census provides valuable insights into the demographic characteristics of the population, such as the rural-urban divide, population density, literacy rates, migration patterns, and fertility rates.

5. Socio-Economic Data: In addition to demographic information, the Census also collects data on various socio-economic aspects, including housing conditions, access to amenities like electricity and sanitation, ownership of assets, and more. This data helps in assessing the social and economic development of different regions and communities.

6. Data Dissemination: The Census data is compiled, analyzed, and published in the form of reports, tables, and statistical publications. These publications are made available to the public, researchers, policymakers, and various government departments for reference and analysis.

7. Importance: The Census data is crucial for evidence-based decision making, policy formulation, and resource allocation by the government. It helps in identifying areas that require special attention, planning infrastructure development, targeting welfare schemes, and monitoring social progress.

Conclusion:
The Census of India is a decennial publication that contains data regarding various aspects of demographic changes in the country. It plays a vital role in providing accurate and detailed information about the population, helping in the formulation of government policies and programs.

Secondary data collection refers to the process of gathering information that has already been collected by someone else for a different purpose. It involves using existing data sources such as books, articles, reports, and databases to extract relevant information. The options provided in the question are different methods of primary data collection rather than secondary data collection.

Primary data collection methods involve directly gathering information from individuals or sources specifically for the purpose of the current research. On the other hand, secondary data collection involves utilizing existing data sources that were collected for a different purpose. This data can be obtained from various sources such as government publications, research papers, company reports, and online databases.

There are several methods of secondary data collection, which are as follows:

1. Published Sources: This refers to obtaining information from books, magazines, journals, and other published materials. These sources can provide valuable data on a wide range of topics, and they are often reliable and well-researched.

2. Government Sources: Governments collect and publish a vast amount of data on various topics such as demographics, economics, health, education, and more. This data can be accessed through government websites, statistical agencies, and other official sources.

3. Research Reports: Many research studies and reports are conducted by organizations, research institutions, and think tanks. These reports often contain valuable data and insights related to specific industries, markets, or social issues.

4. Online Databases: There are numerous online databases that provide access to a wide range of secondary data sources. These databases may include academic journals, market research reports, industry profiles, and more. Examples of such databases include JSTOR, ProQuest, and EBSCOhost.

5. Previous Research Studies: Existing research studies can serve as a valuable source of secondary data. Reviewing previous studies in the same field can provide insights, data, and references for the current research.

6. Company Reports: Many companies publish annual reports, financial statements, and other documents that contain valuable information about their operations, performance, and industry trends. These reports can be a valuable source of secondary data for market research and analysis.

In conclusion, the correct answer to the question is option 'D' - None of these. The options provided in the question are methods of primary data collection, whereas secondary data collection involves gathering information from existing sources such as published materials, government sources, research reports, online databases, previous research studies, and company reports.

Compensating Errors:

Compensating errors are those errors that offset each other and do not affect the accuracy of the final result. These errors can be either positive or negative and can occur in any transaction or calculation.

For example, if an accountant overstates the revenue by $100, but also overstates the expenses by $100, the net effect on the financial statements is zero. This is because the two errors offset each other and the final result is accurate.

Characteristics of Compensating Errors:

1. Offsets each other: The primary characteristic of compensating errors is that they offset each other. As a result, the final result is not affected.

2. Positive or Negative: Compensating errors can be either positive or negative. For example, an error that overstates revenue is positive, while an error that understates expenses is negative.

3. Do not affect accuracy: Since compensating errors offset each other, they do not affect the accuracy of the final result.

Difference between Compensating and Non-Compensating Errors:

Compensating errors are different from non-compensating errors in the sense that non-compensating errors do not offset each other and affect the accuracy of the final result. Non-compensating errors can be either positive or negative, and they need to be corrected to arrive at the accurate result.

For example, if an accountant overstates the revenue by $100 and understates the expenses by $50, then the final result will be overstated by $50. This is a non-compensating error and needs to be corrected.

Conclusion:

Compensating errors are those errors that offset each other and do not affect the accuracy of the final result. These errors can occur in any transaction or calculation, and they can be either positive or negative. It is essential to identify and correct non-compensating errors to arrive at an accurate result.