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SIC codes are sets of four-digit codes used to classify what?
Suggested Answer: D
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SIC [Standard Industrial Classification] codes are numerical codes used to classify industries. For example, 1000 = mining, 1500 = construction. These codes help in categorising spend, benchmarking, and market analysis but are not intended for memorisation.
[Ref: CIPS L5M6 Study Guide, p.82 -- SIC codes]
32 comments · newest first
JI
Jillian
8 months ago
I remember learning about industries in class.
GE
Gerald
8 months ago
Spend categories? Nah, that's not it.
OL
Oliva
8 months ago
Same here! They help in industry classification.
BE
Beth
9 months ago
I feel confident it's D) Industries.
LO
Lorita
9 months ago
Business departments could be a guess, but industries make more sense.
AL
Alline
9 months ago
Definitely not countries.
VA
Valentin
9 months ago
Yeah, I agree. SIC codes classify industries.
SO
Soledad
9 months ago
I think it's about industries.
MI
Mindy
9 months ago
I thought they were for business departments?
AD
Adell
10 months ago
Wait, are they really only four digits?
RE
Rene
10 months ago
Totally agree, it's all about industries!
LI
Lindsay
10 months ago
They're used to classify industries.
VE
Verda
10 months ago
I’m a bit confused; I thought SIC codes might also relate to spend categories, but now I’m not so certain.
JO
Joseph
10 months ago
I feel like we had a practice question about classification systems, and SIC codes were definitely mentioned. I think it’s about industries.
MA
Margret
10 months ago
I remember studying SIC codes in relation to industries, so I’d lean towards option D.
KE
Keena
11 months ago
D) Industries, for sure. Although I do wonder if there's a secret code for the best lunch spots near the office.
DE
Denny
11 months ago
I think SIC codes are related to industries, but I’m not completely sure if they also cover business departments.
DO
Dorthy
11 months ago
Nope, definitely for industries, no doubt!
MA
Margery
11 months ago
Haha, classifying business departments with a 4-digit code? That's a good one. Gotta be D) Industries.
RO
Rosendo
11 months ago
D) Industries, no doubt about it. I wonder who came up with these codes, though. Seems like a random system.
CE
Ceola
12 months ago
D) Industries, easy peasy. I use these codes all the time in my business.
BE
Becky
12 months ago
Definitely D. I can't imagine classifying countries with a 4-digit code. That's just silly.
RO
Royal
1 year ago
D) Industries
ER
Ernie
1 year ago
SIC codes... I remember those from my business classes. They're a numerical system used to identify the primary business activity of an establishment. So the answer has to be D) Industries. Easy one!
GE
Gerardo
1 year ago
Ugh, I totally blanked on what SIC codes are used for. Let me think this through - I know they have to do with business classification, but I'm not sure if it's by department, spend, country, or industry. I'll have to make an educated guess here.
AL
Alishia
1 year ago
Ah, I know SIC codes! They're used to categorize different types of businesses, right? I'm pretty confident D) Industries is the correct answer.
PA
Paz
1 year ago
Hmm, I'm not totally sure about this one. SIC codes sound familiar but I can't quite recall what they're used for. I'll have to think this through carefully.
AL
Alexia
1 year ago
I think this is asking about the purpose of SIC codes, which I remember learning are used to classify industries. I'll go with D) Industries.
IS
Isaiah
7 months ago
So, D) Industries is the right choice!
PH
Phil
7 months ago
I remember learning that in class!
CA
Casey
7 months ago
Definitely, it's all about industries.
MA
Ma
7 months ago
I believe SIC codes classify industries too.