COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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evaluating the results
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gathering information
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identifying the problem
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selecting the best course of action
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Detailed explanation-1: -In this final step, consider the results of your decision and evaluate whether or not it has resolved the need you identified in Step 1. If the decision has not met the identified need, you may want to repeat certain steps of the process to make a new decision.
Detailed explanation-2: -The correct answer is evaluating the decision’s effectiveness. The last step in the process of decision-making is Evaluating or Monitoring the decision’s effectiveness.
Detailed explanation-3: -Implement and communicate: Once you’ve made a decision, implement and communicate.
Detailed explanation-4: -The final step of the decision-making process is to implement the alternative that has been selected. (False) Implementation of the best alternative is the second-to-last step in the process. The final step of the process is to appraise the result of the decision to see if it solved the problem.