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Types of Problems and Decisions (Scenario)

question 11

Multiple Choice

Types of Problems and Decisions (Scenario)
It seems Dave spends most of his day making decisions. Every time he turns around, someone wants him to make a decision about something. This morning, the office assistant came in and asked if she could reorder paper for the fax machine. That seemed like a routine decision that he should not have to deal with. If Dave could avoid those types of decisions, then he could focus more time and attention on the more complicated issues, such as the one presented to him by the production supervisor this afternoon. According to the supervisor, a major piece of equipment urgently needs repairs, and the repair bill could cost almost as much as a new machine!
-Dave tells his office assistant that in future,she is authorized to order 10 boxes of fax paper whenever they are down to their last box.To handle this problem,Dave has used a type of decision called a ________.

Definitions:

Federal Income Taxes

Taxes levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Defined Contribution Plans

Retirement plans in which the amount invested in the plan is defined, but the future benefit to be received is not.

401k Plan

A retirement savings plan sponsored by an employer allowing employees to save and invest a portion of their paycheck before taxes are taken out.

Payroll Taxes

Taxes that are taken out of employee's paychecks by the employer, including federal and state income taxes and Social Security and Medicare taxes.