COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Influences on Decision Making Include the following factors:-values-priorities-environment-peers or colleagues-role models-family-self-image-time
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True
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False
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Explanation:
Detailed explanation-1: -This study addresses the influencing factors that are related to decision making, and categorizes them under five captions: Personal factors, organizational factors, Social factors, Environmental factors and behavioural factors.
Detailed explanation-2: -Several factors influence decision making. Those factors are past experiences, cognitive biases, age and individual differences, belief in personal relevance, and an escalation of commitment.
Detailed explanation-3: -The empirical results reveal that strategic decision-making abilities are affected by five factors: attention, memory, thinking, emotion, and sentiment, and whose influence mechanisms and degrees are varied.
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