Normative Means It Defines How a Decision Maker Should Make

question 28

True/False

Normative means it defines how a decision maker should make decisions.

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Definitions:

Processing Methods

Various techniques or strategies used in the handling, preparation, and conversion of raw materials into finished goods or services.

Accounting Information

Data related to the financial transactions and status of an individual, business, or other entity, crucial for making economic decisions.

Subsidiary Ledger

A ledger containing individual accounts with a common characteristic.

Control Account

A general ledger account that summarizes the total amounts recorded in various subsidiary ledgers for easier and consolidated reporting.