ECONOMICS

COST ACCOUNTING

INFORMATION FOR DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Policy, Procedure and Rule are considered when making
A
Programmed decision
B
non-programmed decision
C
risky decision
D
Ambiguous decision
Explanation: 

Detailed explanation-1: -Programmed decision-making involves those decisions that already have a plan or rule in place and is used to reach a solution or conclusion. In other words, managers have already made such decisions before and it’s a repetitive and routine process.

Detailed explanation-2: -Public policy decision making refers to actions taken within governmental settings to formulate, adopt, implement, evaluate, or change environmental policies. These decisions may occur at any level of government.

Detailed explanation-3: -what are programmed decisions? Programmed decisions are reached by following established policies and procedures; these decisions also are referred to as routine or repetitive decisions.

There is 1 question to complete.