COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Manager’s past experiences
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Manager’s feelings or emotions
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Manager makes decision on ethical values/culture
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All of the above
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Detailed explanation-1: -Intuitive decision-making is based on implicit knowledge relayed to the conscious mind at the point of decision through affect or unconscious cognition.
Detailed explanation-2: -Intuitive thinking has certain essential features and involves the use of a sound, rational, relevant knowledge base in situations that, through experience, are so familiar that the person has learned how to recognize and act on appropriate patterns.
Detailed explanation-3: -Intuition. You are driving down a major highway during rush hour. All of a sudden, your intuition, or gut instinct, tells you to take the next exit. When you get to work, you find out that turning early allowed you to narrowly miss a massive accident a little further down the highway.