In the Classical Model of Decision Making, the Most Appropriate

question 68

Multiple Choice

In the classical model of decision making, the most appropriate decision possible in light of what is believed to be the most desirable consequences for the organization is known as the ________ decision.

• A)intuitive
• B)creative
• C)heuristic
• D)subjective
• E)optimum

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Definitions:

Partnership

A business entity created when two or more persons collaborate to operate a business and share its profits, losses, and responsibilities.

Transferable Interest

An ownership interest in an entity that can be transferred or sold to another party, subject to any restrictions in the entity's governing documents.

Distributions

Payments made by a business to its stakeholders from its profit or assets.

Accounting Books

Official records that track financial transactions and the financial position of an entity.