Herbert Simon Describes a Process by Which a Manager Selects

question 31

Multiple Choice

Herbert Simon describes a process by which a manager selects the first alternative that will meet the necessary criteria for a solution. He called this

• A)satisficing
• B)standard operating procedure
• C)settling
• D)none of the above

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Definitions:

Sum-Of-The-Years-Digits

A depreciation method that accelerates the recognition of expenses by applying a decreasing fraction to the depreciable value each year, based on the sum of the years’ digits.

Office Furniture

Items and fixtures used in an office setting for working and storage purposes, including desks, chairs, and file cabinets.

Straight-Line Method

A way of calculating depreciation by evenly spreading the cost of an asset over its useful life.

Resale Value

The projected value at which an asset can be disposed of after its life of usability has ended.