COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Making the decision
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Analyzing the situation
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Identifying the decision needs to be made
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Reviewing the decision which was made
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Detailed explanation-1: -Try to clearly define the nature of the decision you must make. This first step is very important.
Detailed explanation-2: -Make your decision Once you have taken the time to outline your goals, gather your information, and then evaluate your different possibilities, the time has come for the most important step in the decision-making process. Now you want to make your actual choice about the question at hand.
Detailed explanation-3: -The most important thing to remember when faced with an important decision is to determine what type of impact the decision will have on the people involved. Many bad decisions can be remedied, however, the more people the decision impacts, the more difficult it will be to remedy the situation.
Detailed explanation-4: -Step 2: Gather Information for Weighing Your Options Always seek the opinions of people that you trust or speak to experts and professionals, because it will help you to come up with a variety of solutions when weighing all your options for a final decision.