COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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to research and understand the problem or decision to be made; consider the alternatives; choose an action; implement the action; then evaluate the outcome.
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process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.
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the action or process of making important decisions.
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Detailed explanation-1: -In research, decision-making processes are usually examined as either group decision-making, or individual decision-making. In group decision-making, multiple individuals work together to analyze a question or problem, consider alternative choices, and make a choice.
Detailed explanation-2: -Formulate possible solutions – identify a wide range of possible solutions. Evaluate possible solutions – weigh the advantages and disadvantages of each solution. Think through each solution and consider how, when, and where you could accomplish each. Consider both immediate and long-term results.
Detailed explanation-3: -Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions. Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternatives.