All of the Following Are Characteristics of Classical Decision Making

question 48

Multiple Choice

All of the following are characteristics of classical decision making model,except:

• A)clear-cut problems and goals
• B)conditions of certainty
• C)rational choice by an individual for maximising outcomes
• D)limited information about alternatives and their outcomes
• E)A and B.

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Definitions:

Disbursement Float

The interval between the issuance of a check and the actual deduction of the amount from the issuer's account.

Lockbox System

A service provided by banks to companies for the collection of payments from customers, whereby payments are sent to a special post office box instead of to the company.

Cash Concentration Account

A bank account used by companies to consolidate and manage cash from multiple locations or accounts, improving liquidity management.

Collection Float

The time delay between when a check is written and when it is actually deducted from the payer's account, impacting the receiver's cash flow.