COST ACCOUNTING
INFORMATION FOR DECISION MAKING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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major decisions
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expected decisions
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impulsive decisions
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routine decisions
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Detailed explanation-1: -Routine decisions: Choices that you make automatically about everyday matters, such as what to eat and wear. These decisions are generally very easy to make and do not affect your life to a great extent. Major decisions: Tough choices requiring careful thought because they affect your career and personal life.
Detailed explanation-2: -Programmed decisions are also sometimes referred to as routine or low-involvement decisions because they don’t require in-depth mental processing to reach a decision.
Detailed explanation-3: -If you are trying to decide on a career path, always consider your personality, preferred lifestyle, utilization of skills, pay, working conditions, commute, future growth opportunities, working environment, wants, needs, leadership opportunities, insurance and training facilities.
Detailed explanation-4: -How can a person determine that a decision was a good one? The decision met the person’s goals.