Descriptive Decision Models

question 62

Multiple Choice

Descriptive decision models:

• A) aim to predict what will happen in the future.
• B) describe relationships but do not tell a manager what to do.
• C) help analyze the risks associated with various decisions.
• D) do not facilitate evaluation of different decisions.

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Definitions:

Letter of Requisition

A formal written request, often used in official or professional settings, to demand the provision of goods, services, or information.

Formal Demand

A formal request, usually in writing, requiring a person or entity to fulfill a legal obligation or payment.

Payment

The act of transferring money or its equivalent in exchange for goods or services.

Commission

A fee or percentage awarded to salespeople, agents, or brokers for their services in facilitating a sale or transaction.