What Is NOT True About Rational Choice

question 31

Multiple Choice

What is NOT true about rational choice?

• A) It can result in different decisions for different individuals.
• B) It involves comparing costs and benefits.
• C) It might turn out not to have been the best choice after the event.
• D) It is a choice that uses the available resources to best achieve the objective of the person making the choice.
• E) It is the same for all individuals.

---

Definitions:

Expected Activities

Forecasted or anticipated actions taken by an individual, group, or organization that aim to achieve certain goals or outcomes.

Financial Statement Effects

The impact of business transactions and events on the financial statements, reflecting changes in financial position.

Budgeted Income Statement

A financial forecast that projects a company's revenue, expenses, and net income for a given period.

Capital Expenditures Budget

The Capital Expenditures Budget is a plan for the funds to be spent on long-term assets that will have a useful life beyond the current fiscal year, such as buildings, equipment, or vehicles.