COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mr. Rahman, the CEO of East Company, often examines several alternatives before he moves forward on a major initiative. This process usually involves a fairly lengthy examination of each alternative before a final decision is made. This step in the decision-making process is referred to as
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identifying and diagnosing problems.
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identifying objectives.
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generating alternatives.
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the Delphi Technique.
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evaluating alternatives.
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Explanation:
Detailed explanation-1: -Step 1: Identify the decision You realize that you need to make a decision. Try to clearly define the nature of the decision you must make. This first step is very important.
Detailed explanation-2: -Hence, we conclude that changing the desired outcome is NOT one of the steps involved in the decision-making process.
Detailed explanation-3: -Evaluating choices is the most important because it is where each decision is actually weighed and considered. This step has to be included for a decision to actually be made. Making a decision is the most important because it is the culmination of all the other choices.
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