COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Define the problem
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Make the decision
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Evaluate the results
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Consider alternatives
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Detailed explanation-1: -The review stage is the last step of the decision-making process here, you will evaluate whether or not the specific outcome resolved the problem or opportunity you identified initially.
Detailed explanation-2: -Step 7: Review your decision & its consequences 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-3: -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.