Which of the Following Is the First Step in the Managerial

question 38

Multiple Choice

Which of the following is the first step in the managerial decision making process?

• A) Evaluation and feedback
• B) Development of alternatives
• C) Recognition of decision requirement
• D) Diagnosis and analysis of causes
• E) Selection of desired alternatives

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Definitions:

Multiproduct Break-Even

An analysis used to determine the point at which total revenue equals total costs for multiple products, indicating no profit or loss.

Weighted Contribution

A calculation that assigns different weights or importance to various items or activities based on their contribution to the total.

Crossover

In genetics, the exchange of genetic material between chromosomes during meiosis; in other fields, it refers to a point where two or more different categories or entities meet.

Fixed Costs

Expenses that do not change with the level of production or business activity, such as rent, salaries, and insurance premiums.