Peter Is a Senior Manager in an Organization That Is

question 33

Multiple Choice

Peter is a senior manager in an organization that is currently laying off its employees.It is Peter's responsibility to convey this message to the laid off employees.Harry is one among them with whom Peter had a conflict a year ago.Therefore,in an attempt to avoid any such conflicts again,Peter requested a human resources representative to convey the message instead.In this case,Peter uses the _____ heuristic.

• A) intuitive
• B) availability
• C) representativeness
• D) adjustment

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Definitions:

Budget

An estimate of income and expenditure for a set period of time.

Master Budget

A comprehensive financial planning document that consolidates all of a company’s budgets for sales, production, overhead, administration, and others into one overall budget.

Safety Stock

An additional quantity of an item kept in the inventory to reduce the risk of stockouts due to uncertainties in supply and demand.

Budgeted Income Statement

A financial statement that projects income, expenses, and net profit for a future period based on management's expectations and budgeting process.