COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tactical planning
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Operational Planning
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Strategic planning
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No planning needed. Merging is always good choice.
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Detailed explanation-1: -People who prefer simple, clear-cut solutions to problems use the directive style. Most people underestimate their ability to predict uncertain outcomes.
Detailed explanation-2: -Planning is the process of selecting a future course of action, where Decision-making means selecting a course of action. Decision-making is defined as the process by which different possible solutions or alternatives are identified and the most feasible solution or course of action is finalized.
Detailed explanation-3: -Individuals are limited by the information they have in order to make a decision in the decision-making process due to the limitation of the rationality of individuals. Bounded rationality is the idea that when individuals make decisions, their rationality is limited by the available information.