COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The first step in the decision making process is ____
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identify alternatives
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identify the decision
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gather information
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take action
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Explanation:
Detailed explanation-1: -1. Frame the Decision. Pinpointing the issue is the first step to initiating the decision-making process. Ensure the problem is carefully analyzed, clearly defined, and everyone involved in the outcome agrees on what needs to be solved.
Detailed explanation-2: -Weigh the evidence. Choose among the alternatives. Take action. Review your decision.
Detailed explanation-3: -The decision-making process includes the following steps: define, identify, assess, consider, implement, and evaluate. Today we’re going to think together a little bit about the decision-making process. Usually, most people don’t break down how they make decisions, they just decide.
There is 1 question to complete.