COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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classical
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normative
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administrative
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political
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Detailed explanation-1: -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.
Detailed explanation-2: -According to the normative model of decision-making, also known as the Vroom-Yetton-Jago model, there are five distinct decision-making strategies or types, either autocratic or democratic in style. These include decide, consult individually, consult the group, facilitate, and delegate.
Detailed explanation-3: -The normative decision model created by Yetton and Vroom is a methodology that factors various strategies and employee involvement levels to make decisions. It uses five main strategies: decision, consult (individual), consult (group), facilitate and delegate.