COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which would be the first step in the decision making process?
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Evaluation
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Implementation
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Recognition of a problem or decision requirement
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List the alternatives
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Explanation:
Detailed explanation-1: -The first step in making the right decision is recognizing the problem or opportunity and deciding to address it.
Detailed explanation-2: -Specify the problem – a first step to solving a problem is to identify it as specifically as possible. It involves evaluating the present state and determining how it differs from the goal state. Analyze the problem – analyzing the problem involves learning as much as you can about it.
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