Barney Is a New Manager Concerned About Decision Making

question 60

Multiple Choice

Barney is a new manager concerned about decision making.Which one of the following statements would you tell Barney is true about decisions and decision making?

• A)Managers make decisions only when performing the controlling function.
• B)In the process of deciding,all the alternatives are combined to form a final alternative which invariably is the choice made.
• C)Organizations only have to consider significant decisions that have a major impact on business.
• D)Decision making is the process of choosing the best alternative for reaching objectives.
• E)All managerial decisions are of equal significance to the organization.

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Definitions:

Accounting Profit

The total revenue of a business minus its explicit costs; does not include opportunity costs.

Home-Organization

The process of organizing and arranging the living space within a home for better functionality and aesthetics.

Farming

The activity or business of growing crops and raising livestock for food, fiber, and other products.

Marginal Product

The additional output that is generated by employing one more unit of a particular input, holding other inputs constant.