Discuss CIPS L4M8 Exam Topic 3 Question 34

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

AExplanation:
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.
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Suggested Answer: A

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29 comments · newest first

Michell 11 months ago

I think training should be a tangible need too, right?

Karrie 11 months ago

Intangible costs like marketing can make or break a company!

Lenora 12 months ago

Wait, are indirect costs really that significant?

Lera 12 months ago

Totally agree, direct costs are crucial for budgeting!

Juan 1 year ago

Tangible costs include vehicles and utilities.

Rolande 1 year ago

I feel confident about tangible needs, but I struggle with intangible ones. I hope I can recall some good examples during the exam!

Tambra 1 year 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.

Tambra 1 year ago

I think direct costs are easier to identify, like materials and labor, but indirect costs always confuse me a bit.

Carissa 1 year 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.

Kasandra 1 year 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.

Micaela 1 year 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.

Agustin 1 year 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.

Chan 1 year 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.

Tyra 1 year 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.

Ellsworth 1 year 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.

Nieves 1 year 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.

Telma 1 year 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.

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!

Elke 1 year ago

↳ replying to Cherry

And indirect costs are the support costs, like management and rent, that aren't directly tied to production.

Katheryn 1 year ago

↳ replying to Cherry

Direct costs are directly related to production, such as labor and materials used to make goods.

Son 1 year ago

↳ replying to Cherry

Intangible costs are things like insurance and marketing that you can't physically touch.

France 1 year ago

↳ replying to Cherry

Yes, that's correct! Tangible costs are the physical items like raw materials and vehicles.

Beckie 2 years ago

This question covers a lot of ground! Tangible, intangible, direct, and indirect costs - it's like a financial scavenger hunt.

Beckie 1 year ago

↳ replying to Beckie

What about indirect costs, can you provide an example?

Adelle 1 year ago

↳ replying to Beckie

Can you give an example of a direct cost in a production process?

Trina 1 year ago

↳ replying to Beckie

What are some examples of intangible costs in an organization?

Freeman 2 years ago

On the other hand, intangible costs like marketing and research are also crucial for long-term success.

Laquita 2 years ago

I agree, tangible costs are important for the day-to-day operations of a business.

Freeman 2 years ago

I think tangible needs in an organization include capital purchases and raw materials.

CIPS L4M8 Exam - Topic 3 Question 34 Discussion