Which of the Following Statements About Decision-Making Is True

question 48

Multiple Choice

Which of the following statements about decision-making is true?

• A) Risk should not be taken into account.
• B) Objectives should be quantitative and not qualitative.
• C) Opportunity cost should be considered.
• D) Sunk costs should usually be taken into account.

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Definitions:

Adhesion Contract

A standardized contract prepared by one party, with little to no negotiation allowed, often in situations with unequal bargaining power.

Definite Offer

An offer that is clear, specific, and leaves no room for negotiation, often containing all the terms necessary for an enforceable agreement.

Definite Acceptance

Definite Acceptance refers to an unambiguous agreement by the offeree to meet the terms of the offer, forming a binding contract.

Material Terms

essential and significant conditions and clauses in a contract that are so important that any breach of them would justify the termination of the contract.