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CIPS L4M8 Exam - Topic 3 Question 34 Discussion

Create a list of tangible, intangible, direct and indirect needs within an organization with which you are familiar.
A) Explanation: Tangible costs are the cost an organization incur acquiring items that can be physically touched and or seen. Examples includes; 1) Capital Purchase 2) Raw materials 3) Sundry items 4) Vehi-cles/transport 5) Utilities Intangible costs are the cost an organization incurs acquiring something that cannot be physically seen or touched. Examples include; 1) Insurance 2) Marketing 3) Research and development 4) Salaries and/pension 5) Services 6) Training. Direct costs -- These are costs that an organization incurs acquiring product and services directly attributable/traceable to its production, for example, the cost of labour and materials directly uses to produce the goods/services which the organization sells. In the case of buying and running a Lorry for transport fleet, this would be 1) total cost of acquiring the lorry,) Tooling 3) Operation. Indirect cost - These are costs that are not directly associated to production, for example, materials and services not used in production, labour/ staff cost not directly attributed to production, such as management, sales and marking, ICT support, rents. In the case of buying and running a Lorry for transport fleet. Examples are; 1) Insurance 2) Disposal. * Go back to the question column and study the Questions and response

CIPS L4M8 Exam - Topic 3 Question 34 Discussion

Actual exam question for CIPS's L4M8 exam
Question #: 34
Topic #: 3
[All L4M8 Questions]

Create a list of tangible, intangible, direct and indirect needs within an organization with which you are familiar.

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Suggested Answer: A

by Flo at May 09, 2024, 11:45 AM

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Michell
9 months ago
I think training should be a tangible need too, right?
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Karrie
9 months ago
Intangible costs like marketing can make or break a company!
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Lenora
10 months ago
Wait, are indirect costs really that significant?
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Lera
10 months ago
Totally agree, direct costs are crucial for budgeting!
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Juan
10 months ago
Tangible costs include vehicles and utilities.
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Rolande
10 months ago
I feel confident about tangible needs, but I struggle with intangible ones. I hope I can recall some good examples during the exam!
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Tambra
11 months ago
We had a practice question on this last week, and I think I got the definitions mixed up. I need to double-check what counts as indirect costs.
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Tambra
11 months ago
I think direct costs are easier to identify, like materials and labor, but indirect costs always confuse me a bit.
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Carissa
11 months ago
I remember we discussed tangible and intangible needs in class, but I’m not sure if I can list enough examples for each category.
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Kasandra
11 months ago
This is a good opportunity to demonstrate my understanding of these concepts. I'll make sure to include a variety of examples for each type of need to show my depth of knowledge on the topic.
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Micaela
11 months ago
Okay, I think I've got a good strategy here. I'll make four separate lists - one for tangible needs, one for intangible, one for direct, and one for indirect. That way I can be sure I cover all the bases and provide clear, organized responses.
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Agustin
11 months ago
Hmm, I'm a little unsure how to approach this. Do we need to provide specific examples for each type of need, or just list the categories? I want to make sure I fully understand the question before I start writing.
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Chan
11 months ago
This seems like a straightforward question, just need to list out the different types of needs within the organization. I'll start by thinking of some tangible and intangible needs, then direct and indirect ones.
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Tyra
11 months ago
This seems like a straightforward question about deploying Office 365 ProPlus to devices using Windows Autopilot. I think the key is to understand the options available for distributing the software.
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Ellsworth
11 months ago
Okay, let me re-read the question. I'm leaning towards B - Subscribed catalog, but I want to double-check the other options just to be sure.
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Nieves
11 months ago
Okay, let me see here. The UiPath Robotic Enterprise Framework template - I'm guessing it's probably used as a starting point for automations, but I'm not entirely sure.
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Telma
11 months ago
Hmm, I'm a bit unsure about how to approach this. I'll need to review my notes on AON diagrams and float calculations.
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Cherry
1 year ago
Okay, let's see if I can keep all these categories straight. Tangible costs are the physical stuff, intangible are the invisible ones, direct are the production-related, and indirect are the support costs. Got it!
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Elke
1 year ago
And indirect costs are the support costs, like management and rent, that aren't directly tied to production.
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Katheryn
1 year ago
Direct costs are directly related to production, such as labor and materials used to make goods.
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Son
1 year ago
Intangible costs are things like insurance and marketing that you can't physically touch.
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France
1 year ago
Yes, that's correct! Tangible costs are the physical items like raw materials and vehicles.
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Beckie
1 year ago
This question covers a lot of ground! Tangible, intangible, direct, and indirect costs - it's like a financial scavenger hunt.
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Beckie
1 year ago
What about indirect costs, can you provide an example?
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Adelle
1 year ago
Can you give an example of a direct cost in a production process?
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Trina
1 year ago
What are some examples of intangible costs in an organization?
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Freeman
1 year ago
On the other hand, intangible costs like marketing and research are also crucial for long-term success.
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Laquita
1 year ago
I agree, tangible costs are important for the day-to-day operations of a business.
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Freeman
1 year ago
I think tangible needs in an organization include capital purchases and raw materials.
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