COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You should make all of your decisions using the PACED decision making model.
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True
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False
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Explanation:
Detailed explanation-1: -The 5-step paced decision making model is a tool that can help managers make fast, effective decisions. The model consists of five steps: problem, alternatives, criteria, evaluation, and decision.
Detailed explanation-2: -This decision-making model helps teams share the responsibility for decisions, can help the team and individual members develop decision-making skills, and allows the team leader to use his/her time in another way.
Detailed explanation-3: -Their assigned goal is go through the PACED steps-1) Define the Problem, 2) List Alternatives, 3) Determine Criteria, 4) Evaluate Alternatives, and 5) Make a Decision.
There is 1 question to complete.