Relevant Information and Short-Term Decisions
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following best describes relevant information in the context of decision-making?

  • Data that is irrelevant to the decision-making process
  • Data that is not available to managers
  • Historical data that is used to compare alternatives
  • Expected future data that differ among alternatives (correct)

    • In the context of decision-making, what are relevant costs?

  • Costs that are incurred in the past
  • Costs that are not considered in the decision-making process
  • Costs that are not related to a particular decision
  • Costs that are relevant to a particular decision (correct)

    • What is the role of managerial accountants in the decision-making process?

  • To compare historical data
  • To make decisions among alternative courses of action
  • To gather and analyze irrelevant information
  • To gather and analyze relevant information (correct)

    • Which step of the decision-making process involves comparing alternatives?

    <p>Step 3: Compare alternatives</p> Signup and view all the answers

    What would be considered relevant information for a company deciding between two different models of delivery trucks?

    <p>The cost of the trucks and insurance premium costs</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser