Which of the Following Steps Follows the Choice Step in the Decision-Making

question 6

Multiple Choice

Which of the following steps follows the choice step in the decision-making process?

• A) intelligence gathering
• B) alternatives formulation
• C) evaluation of results
• D) implementation

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Definitions:

Average Collection Period

The average amount of time it takes for a business to receive payments owed by its customers for credit sales.

Sales on Account

Transactions where goods or services are sold and payment is deferred to a future date, typically recorded as accounts receivable.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered or used but not yet paid for.

Operating Cycle

The duration between the acquisition of inventory and the collection of cash from receivables, indicating the time needed to sell inventory and collect cash.