Which of the Following Is True of the Incremental Trial-And-Error

question 7

Multiple Choice

Which of the following is true of the incremental trial-and-error method of decision making?

• A)It is inappropriate for pilot testing a decision.
• B)It helps in fine-tuning existing strategies.
• C)It is evident when there is a high level of technical knowledge.
• D)It is found in situations with low levels of agreement on goals.

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Definitions:

Internal Control Structure

A set of processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Recording Transactions

The systematic process of documenting financial transactions in the accounting records of a business.

Accounting System

The methods and procedures used by a business to collect, classify, summarize, and report financial data for use by management and external users.

Voucher

A document representing an internal intent to make a payment to an external entity, detailing the specifics of the transaction.