The Primary Criterion When Faced with a Resource Allocation Decision

question 57

Multiple Choice

The primary criterion when faced with a resource allocation decision is

• A)cost minimization.
• B)reduction in the amount of time required to perform a particular job.
• C)achievement of organizational goals.
• D)how well the alternative options help achieve organizational goals in relation to the costs incurred.
• E)improving information flow.

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Definitions:

Bottom-Up Plan

A planning approach that starts at the operational level, with detailed tasks and schedules, and integrates them into an overall strategic plan.

Realistic Compromise

An agreement or solution that is practical and achievable, considering the existing limitations and differences between parties.

Aggressive Optimism

A mindset or investment strategy characterized by a high expectation for positive outcomes, often leading to higher risk-taking.

Conservatism

In accounting, it is a principle that requires potential expenses and liabilities to be recognized immediately, but revenues only when they are ensured.