Classical Model of Decision Making Includes Which of These Assumptions

question 61

Multiple Choice

Classical model of decision making includes which of these assumptions?

• A) Problems are unstructured and ill defined.
• B) The decision maker strives for conditions of certainty.
• C) Criteria for evaluating alternatives are unknown.
• D) The decision maker selects the alternatives that will minimise the economic return to the organisation.
• E) The situation is always uncertain.

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Definitions:

Sales Returns

Goods returned by customers to the seller after the sale, often due to defects, not meeting the buyer's needs or other reasons.

Cash Sale

A transaction in which goods or services are paid for and received at the time of sale, using cash or its equivalents.

Discount Period

The time frame within which a payment can be made at a reduced rate before it reverts to the full price.

Accounts Receivable

The money owed to a business by its clients or customers for goods or services delivered but not yet paid for.