The Last Step in the Rational Decision-Making Process Is _____________

question 74

Multiple Choice

The last step in the rational decision-making process is _____________.

• A) alternative selection
• B) implementation
• C) follow-up and evaluation
• D) communication of decision

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the account ledger but have not yet been cashed or cleared by the bank.

Adjusted Balance

The method of calculating finance charges on a credit account by subtracting payments or credits received during the billing cycle from the balance at the end of the billing cycle.

Check Register

A record-keeping tool used to track checks written, deposits made, and the current balance of a checking account.

Bank Statement

A document issued by a bank that summarizes a customer's financial transactions and balance over a specific period.