The Utility Approach Holds That the Correct Course of Action

question 42

True/False

The utility approach holds that the correct course of action is the one the promotes "the greatest good for the greatest number."

---

Definitions:

Project Cost

The total expenditure, including all applicable fees and charges, needed to complete a project.

Payback Period

The length of time needed to recoup the initial cost of an investment, measuring the time it takes for an investment to become profitable.

Cash Flows

The aggregate quantity of cash and cash-like assets going in and coming out of a firm.

Payback Period

The duration required to recoup the cost of an investment or project.