Consistently Using a Structured, Model Based Process to Make Decisions

question 69

Multiple Choice

Consistently using a structured, model based process to make decisions

• A) should produce good outcomes more frequently.
• B) is less effective than making decisions in a haphazard manner.
• C) is evidence that luck plays an important role in decision making.
• D) always leads to well-deserved success in managerial decision making.

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Definitions:

Useful Life

The estimated duration a fixed asset is expected to be economically useful to an organization.

Capitalized

Refers to recording an expense or cost as an asset on the balance sheet, rather than as an expense on the income statement, to spread out the expense over its useful life.

Long-Lived Assets

These are tangible or intangible assets that a company expects to use for more than one year, including property, plant, and equipment.

Economic Benefits

The gains derived from actions or decisions, typically measured in terms of revenue or income generated or costs saved.