COST ACCOUNTING
INFORMATION FOR DECISION MAKING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What two resources should you consider when making important decisions?
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personal resources
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social resources
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material resources
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family resources
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Explanation:
Detailed explanation-1: -Decision makers and intelligent systems are examples of resources that are active in nature as they perform decision-making activities. In contrast, information is an example of a passive resource, because it is subject to use by active resources (e.g., decision makers) during decision making.
Detailed explanation-2: -Answer: Before making a significant choice, it is important to take into account a number of factors, including prior experiences, different cognitive biases, an increase in commitment and sunk costs, age, socioeconomic status, and a sense of personal relevance are examples of personal qualities.
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