In Decision Making, Managers Use

question 36

Multiple Choice

In decision making, managers use

• A)financial accounting information exclusively since it is more objective and precise due to well-established principles and conventions.
• B)information regarding the organisation as a whole rather than segments of the organisation in order to capture a broader perspective of the company's operations.
• C)information that is as precise as humanly possible.
• D)whatever information is relevant to the decision even though the information may not conform to generally accepted accounting principles.

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Definitions:

Budget Balancing

The process of adjusting government spending and revenue to ensure that the budget is not in deficit, aiming for a balanced budget.

Federal Budget

An itemized plan for the annual public expenditures of the United States, detailing government spending and revenue.

Paradox Of Thrift

The economic theory that personal savings can be detrimental to overall economic growth if too high, as they may reduce overall demand.

Great Recession

A severe global economic recession that occurred from late 2007 through mid-2009, characterized by widespread financial crisis, high unemployment, and significant drops in the economic activity.