In Decision Making Under ________, There Are Several Possible Outcomes

question 81

Multiple Choice

In decision making under ________, there are several possible outcomes for each alternative, and the decision maker does not know the probabilities of the various outcomes.

• A)risk
• B)utility
• C)certainty
• D)uncertainty

---

Definitions:

Purchase Discounts

Purchase discounts are reductions in price given by the supplier to the buyer for early payment or payment within a specified period.

Credit Sales

Transactions where the customer purchases goods or services on credit and pays the seller at a later date.

Bank Credit Cards

Payment cards issued by banks that allow cardholders to borrow funds within a pre-approved limit for purchases or cash advances.

Freight-In

The cost associated with transporting raw materials or goods into a facility, typically considered as part of the inventory cost.