ECONOMICS

COST ACCOUNTING

INFORMATION FOR DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
True or false. A decision will affect only the person who makes it.
A
True
B
False
Explanation: 

Detailed explanation-1: -Decision-making is the process of choosing from various alternatives to solve a given problem. Hence statement 2nd is correct. Decision-making is an important part of any organization. It is an act of determining a course of action.

Detailed explanation-2: -Hence, we conclude that changing the desired outcome is NOT one of the steps involved in the decision-making process.

Detailed explanation-3: -Everybody should be given the choice to make their own decision. Each individual has his own ideas, opinions and knowledge and these can be put forward with through the decision making process. Taking into consideration all the opinions presented by people helps us to reform and develop our society.

There is 1 question to complete.