COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Step 1 is to identify the decision, what is the best description for this step?
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Establish, demonstrate or recognize the identity of a thing or person.
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As you collect information, you will probably identify several possible paths of action, or alternatives. You can also use your imagination and additional information to construct new alternatives.
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You realize that you need to make a decision. Try to clearly define the nature of the decision you must make.
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Establish, demonstrate or recognize the identity of a thing or person.
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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: -Selecting the best solution is the most critical part of decision making. There is a risk element involved in each alternative against the expected gain. Selection should be made at proper time.
Detailed explanation-3: -Weigh the evidence. Choose among the alternatives. Take action. Review your decision.
There is 1 question to complete.