This quiz works best with JavaScript enabled. Home > Accounting > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 1 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. When a manager makes a decision after taking a few subordinates aside and sharing the situation with them and asking their opinions before they make their decision, this is what style of decision making? A) Semi-autocratic. B) Collaborative. C) Accommodating. D) Leading. Show Answer Correct Answer: D) Leading. 2. This illustrates one of the types of decisions:"Spending 5 million dollars to completely rebuild your company's website in a rapidly changing and highly competitive market." A) No downside. B) Going for broke. C) Favorable odds. D) None of above. Show Answer Correct Answer: B) Going for broke. 3. A concise written summary of a longer report is called a(n) A) Data table. B) Executive summary. C) Data presentation. D) Line graph. Show Answer Correct Answer: B) Executive summary. 4. Regular formal and informal performance reviews can reveal an employee's A) Bad habits. B) Potential for advancement. C) Strengths and weaknesses. D) Training needs. Show Answer Correct Answer: C) Strengths and weaknesses. 5. Which of the following is not part of the buyer decision proocess? A) Information Search. B) Evaluation of Alternatives. C) Post Purchase Behavior. D) All of the other answers are part of the buyer decision process. Show Answer Correct Answer: D) All of the other answers are part of the buyer decision process. 6. Which step is the most important step in the decision making process? A) Identifying the decision needs to be made. B) Analyzing the situation. C) Making the decision. D) Reviewing the decision which was made. Show Answer Correct Answer: A) Identifying the decision needs to be made. 7. Which of the following is an advantage of a house buyer? A) Greater freedom to move. B) Freedom to remodel or redecorate. C) Less responsibility for upkeep. D) None of above. Show Answer Correct Answer: B) Freedom to remodel or redecorate. 8. A purchase manager chooses a vendor because he has supplied quality material in the past rather than by the rational way of choosing the vendor with the best price quote. His decision making is through A) Bounded Rationality. B) Role of Intuition. C) Rationality. D) None of the above. Show Answer Correct Answer: B) Role of Intuition. 9. The assigning of probabilities for action alternatives and their consequences indicates the presence of ..... in the decision environment. A) Satisficing. B) Risk. C) Optimizing. D) Certainty. Show Answer Correct Answer: B) Risk. 10. Believing that your decisions will not change outcome; whatever is meant to be will usually happen anyway. A) Rational. B) Fatalistic. C) Impulsive. D) Authority. Show Answer Correct Answer: B) Fatalistic. 11. Employers are expected to make accommodations in work place facilities as part of the: A) Civil Rights Act. B) Immigration and Reform and Control Act. C) Americans with Disabilities Act. D) Age Discrimination in Employment Act. Show Answer Correct Answer: C) Americans with Disabilities Act. 12. There are 4 buyer types:Practical Loyalists, Bottom-Line Price Shoppers, Opportunistic Switchers, and ..... A) Fanatic Buyers. B) Realistic Buyers. C) Deal Hunters. D) Multiple Buyers. Show Answer Correct Answer: C) Deal Hunters. 13. Who makes the Tactical decisions A) Junior management. B) CEO. C) Middle management. D) Senior management. Show Answer Correct Answer: C) Middle management. 14. The five functions of managers include each of the following except: A) Staffing. B) Cooperating. C) Planning. D) Organizing. Show Answer Correct Answer: B) Cooperating. 15. What is a choice you make about what action to take. A) Attitudfe. B) Obstacle. C) Decision. D) Outcome. Show Answer Correct Answer: C) Decision. 16. When a problem is addressed according to the positive or negative context in which it is presented, this is an example of ..... A) Framing error. B) Escalating commitment. C) Availability and adjustment. D) Strategic opportunism. Show Answer Correct Answer: A) Framing error. 17. At which stage of the rational decision-making model is information overload a particular problem? A) Problem identification. B) Evaluate alternative solutions. C) Implement chosen solution. D) Search for relevant information. Show Answer Correct Answer: D) Search for relevant information. 18. Which is the third step in the problem solving process? A) Identify decision criteria. B) Implement decisions. C) Define problem. D) Evaluate alternatives. Show Answer Correct Answer: D) Evaluate alternatives. 19. Selecting a set of brands and then considering when and where to buy describes which of the following types of purchase behavior? A) Function first. B) Price first. C) Outlet first. D) Item first. Show Answer Correct Answer: D) Item first. 20. Which kind of desicion making conditions means that managers know which goals they wish to achieve, but information about alternatives and future events is incomplete? A) Uncertainty. B) Risk. C) Certainty. D) Ambiguity. Show Answer Correct Answer: A) Uncertainty. 21. Which part of the buyer decision is most closely aligned with Maslow's hierarchy? A) Post-purchase behavior. B) Need recognition. C) Evaluation of alternatives. D) Purchase decision. Show Answer Correct Answer: B) Need recognition. 22. When the decision making situation has certain limitations A) Ambiguous. B) Risky. C) Bounded Rationality. D) Rationality. Show Answer Correct Answer: C) Bounded Rationality. 23. Intuition decision making is based on A) Manager's past experiences. B) Manager's feelings or emotions. C) Manager makes decision on ethical values/culture. D) All of the above. Show Answer Correct Answer: D) All of the above. 24. An act of making a choice or coming to a solution is a ....., A) Conclusion. B) Precaution. C) Problem. D) Decision. Show Answer Correct Answer: D) Decision. 25. In order for information to be relevant, the decision to be made must have an effect on: A) Future cost or revenues. B) Past cost or revenues. C) The timeliness of information. D) None of above. Show Answer Correct Answer: A) Future cost or revenues. 26. Which of the following is an 'Operational' decision? A) Sack the entire Marketing department. B) Refill water fountain in the staff room. C) Introduce a new line of products. D) None of above. Show Answer Correct Answer: B) Refill water fountain in the staff room. 27. A decision tree model is used when making decisions in conditions A) Uncertainty. B) Risk. C) Ambiguity. D) Certainty. Show Answer Correct Answer: B) Risk. 28. Today many top companies make key decisions by using A) Entry level managers. B) Decision-making software. C) Teams. D) None of the above. Show Answer Correct Answer: C) Teams. 29. Procrastination is a decision making strategy in which a person does which of the following? A) Pick the option with the lowest level of risk. B) Let someone else make the decision. C) Delay making a decision. D) Consider every possible option. Show Answer Correct Answer: C) Delay making a decision. 30. Which of the following is an example of an organizing activity? A) Monitoring employees' work. B) Creating an operating budget. C) Dividing employees into work teams. D) Enrolling in management courses. Show Answer Correct Answer: C) Dividing employees into work teams. 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