ECONOMICS

COST ACCOUNTING

INFORMATION FOR DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The decision-making process starts with gathering information.
A
False
B
True
Explanation: 

Detailed explanation-1: -Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions. Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternatives.

Detailed explanation-2: -The first step in the decision making process is Identifying a problem which means examine the problem more closely and understand the cause of a problem.

Detailed explanation-3: -Hence, we conclude that changing the desired outcome is NOT one of the steps involved in the decision-making process.

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