COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Identifying Decision Criteria; Weighting Criteria
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Weighting Criteria; Developing Alternatives
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Developing Alternatives; Analyzing Alternatives
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Identifying a Decision Problem; Identifying Decision Criteria
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Detailed explanation-1: -Decision making can also be classified into three categories based on the level at which they occur. Strategic decisions set the course of organization. Tactical decisions are decisions about how things will get done. Finally, operational decisions are decisions that employees make each day to run the organization.
Detailed explanation-2: -Step 3: Identify the alternatives As you collect information, you will probably identify several possible paths of action, or alternatives. You can also use your imagination and additional information to construct new alternatives. In this step, you will list all possible and desirable alternatives.
Detailed explanation-3: -Step # 2. The decision makers should not limit to obvious alternatives or what has worked in the past but be open to new and better alternatives. They should consider as many alternatives as they can. Realistically, the decision makers should consider more than five alternatives in most cases.
Detailed explanation-4: -Communication of decision and its acceptance by the organization.