COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Expert system approach
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Devil’s advocate approach
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Dialectical inquiry approach
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External analysis approach
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Detailed explanation-1: -The Dialectical Inquiry Decision-Making Technique. Dialectical inquiry requires active preparation from everyone involved in the decision. The group is divided into two subgroups, and each subgroup develops a set of assumptions and recommendations that oppose each other.
Detailed explanation-2: -Rational decision-making model, Bounded rationality decision-making model, Intuitive decision-making model, and. Creative decision-making model.
Detailed explanation-3: -The four different decision-making models-rational, bounded rationality, intuitive, and creative-vary in terms of how experienced or motivated a decision maker is to make a choice. Choosing the right approach will make you more effective at work and improve your ability to carry out all the P-O-L-C functions.