ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -It is important to evaluate multiple alternatives, because the decision-making process may require more than one. There must be set criteria to evaluate each alternative and compare them to one another. This will provide a method of elimination for ineffective alternatives.
Detailed explanation-2: -Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternatives. This approach increases the chances that you will choose the most satisfying alternative possible.
Detailed explanation-3: -Tangible factors include profit, the rate of return, time value etc. And then there are intangible factors like reputation, employee morale, PR etc. After evaluating the feasibility and acceptability of all alternatives, the manager must make his choice.
Detailed explanation-4: -Describe the possible consequences of each alternative to indicate how well it achieves your objectives. Identify the pros and cons of each alternative and weigh their importance. Select an alternative using information and insight from your evaluation.