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What is the term for logical decision making based on thoughtful analysis that compares the benefits and costs of an action?
Wiki User
∙ 7y ago
rational planning
Wiki User
∙ 7y ago
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What is logical decision making based on thoughtful analysis that compares the benefits and costs of an action?
Rational Choice
What are the limitations of system analysis?
System analysis can not completely alter how people in the decision-making process relate. Also, it is only effective where a close relationship exists between decision-maker and analyst.
How a business manager can use variance analysis to make effective management decision?
yes
What are the topics covered in management accounting?
Objective: This course aims at introducing the student to how useful accounting information is prepared, and how it is effectively used, for the purpose of decision-making.Course content: Overview and introduction to management accounting Cost Concepts, Classifications, Terminology and behavior, Job costing and Activity Based Costing, inventory Costing and Capacity Analysis, Cost-Volume-Profit Analysis, Short-term Decision-Making and Relevant Costing, Long-term Decision Making, Pricing Decisions, Master Budget and Flexible Budgeting and variance analysis.
Should financing cost be included as an incremental cash flow in capital budgeting analysis?
Incremental Cash flows are included in capital budgeting decision and if capital budgeting decisions require acquisition of money from open market then its financial cost is also relevant for decision making and it is also included in it.
What is logical decision making based on thoughtful analysis that compares the benefits and costs of an action?
Rational Choice
What is marginal analysis?
A type of cost-benefit decision making that compares the extra benefits to the extra costs of an action
A decision-making method that compares costs and benefits?
rational choice
What are the steps of benefit analysis in the correct order?
Be presented with a decision. List the costs of the decision. Figure out all of the benefits of the decision. Compare costs and benefits to see which is bigger.
What is the last step of the cost benefit analysis?
Step 6--Use the Economic Analysis for Decision Making
which term describes the process of making an economic decision by considering both the advantages and the problems that might arise from the decision?
Cost-benefits analysis
What is true of decisions made of cost benefits analysis?
The best decision results in the most benefits with the fewest costs.The best decision results in the most benefits with the fewest costThe best decision results in the most benefits with the fewest costs. Apex 8)Please provide additional information in order to receive an answer.The best decision results in the most benefits with the fewest costs.
What is true of decisions made using cost-benefits analysis?
The best decision results in the most benefits with the fewest costs.The best decision results in the most benefits with the fewest costThe best decision results in the most benefits with the fewest costs. Apex 8)Please provide additional information in order to receive an answer.The best decision results in the most benefits with the fewest costs.
What is the correct order of steps to show how a cost-benefit analysis is done?
Be presented with a decision. List the costs of the decision. Figure out all of the benefits of the decision. Compare costs and benefits to see which is bigger. OR Come up with an option. Determine the costs of the decision. Calculate the amount of benefit that would be gotten from choosing the option. See if the benefits outweigh the costs to make a decision.
What is true of decisions made using cost-benefit analysis?
The best decision results in the most benefits with the fewest costs.The best decision results in the most benefits with the fewest costThe best decision results in the most benefits with the fewest costs. Apex 8)Please provide additional information in order to receive an answer.The best decision results in the most benefits with the fewest costs.
A decision-making tool that weighs additional costs and benefits of going for one more unit of something?
Marginal analysis...
A decision-making tool that weighs additional costs and benefits of going for one more unit of something.?
Marginal analysis...
