The Likelihood of a Manager Making an Error in Judgment

question 99

True/False

The likelihood of a manager making an error in judgment is much greater in programmed decision making than in nonprogrammed decision making.

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Definitions:

Merchandise

Products acquired for resale to customers in the course of business operations.

Voucher System

An accounting system that involves the use of vouchers as proof of a transaction's occurrence, used for controlling expenditures.

Disbursements

Payments made by a business in the course of its operations, often involving the outflow of cash to vendors or suppliers.

Control Procedures

Measures and policies implemented by a firm to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.