This quiz works best with JavaScript enabled. Home > Accounting > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 4 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Taking steps to support those with protected characteristics to overcome barriers to participation so they have the same chances as everyone else. A) Intervention. B) Positive Action. C) Informational vetting. D) Alternative routes. Show Answer Correct Answer: B) Positive Action. 2. What is the first step that should be followed when studying tables, charts, and graphs? A) Read the title carefully. B) Study all of the data carefully. C) Examine the type of data being reported. D) Review the data labels and legends. Show Answer Correct Answer: A) Read the title carefully. 3. The process of talking to other people about their jobs is called: A) Networking. B) Mentoring. C) Shadowing. D) Pestering. Show Answer Correct Answer: A) Networking. 4. Managers who exhibit bounded rationality are likely to be A) Operating under time constraints. B) Limited in their capacity to acquire and process information. C) Subject to cognitive biases. D) All of the above. Show Answer Correct Answer: D) All of the above. 5. The things you enjoy and want to learn more about. A) Goal. B) Interests. C) Options. D) Values. Show Answer Correct Answer: B) Interests. 6. You can earn a higher wage rate by A) Working for your family. B) Working more hours each week. C) Building skills that are scarce in the labor market. D) Beginning a job immediately after high school. Show Answer Correct Answer: C) Building skills that are scarce in the labor market. 7. Non-financial information that management might evaluate in making a decision would not include.. A) Employees morale. B) The environment. C) Contribution margin. D) The corporate profile in the community. Show Answer Correct Answer: C) Contribution margin. 8. Which of the following is a decision making tool that rates each alternative? A) PERT. B) ABC Analysis. C) SWOT. D) Decision-making. Show Answer Correct Answer: B) ABC Analysis. 9. Unstructured problems are ..... A) Perfectly rational. B) Clear and straightforward. C) Situations in which all options are known. D) Situations in which all options are not known. Show Answer Correct Answer: D) Situations in which all options are not known. 10. The source of data to serve as inputs in incremental analysis is generated by.. A) Market analysts. B) Engineers. C) Accountants. D) All of the above. Show Answer Correct Answer: D) All of the above. 11. What does "brand loyalty" mean? A) The brand is recognizable. B) You buy this brand no matter what. C) You and the brand are friends. D) This is when brands compete against one another. Show Answer Correct Answer: B) You buy this brand no matter what. 12. The stars-and-stripes flag is an example of which of the following cultural elements? A) Value. B) Symbol. C) Ritual. D) Hero. Show Answer Correct Answer: B) Symbol. 13. Which is not one of the steps in Rational Decision making process A) Defining the problem. B) Rating alternatives. C) Identifying the decision criteria. D) Selecting the decision that satisfices. Show Answer Correct Answer: D) Selecting the decision that satisfices. 14. There are two different problem recognition styles ..... A) Actual & Desired State Types. B) Budget & Actual State Types. C) Desired & Planning State Types. D) All answers are incorrect. Show Answer Correct Answer: A) Actual & Desired State Types. 15. Strategy in which a person considers every detail of every option over and over again A) Compliance. B) Impulse. C) Agony. D) Escape. Show Answer Correct Answer: C) Agony. 16. What is the second step in the decision making process? A) Consider the alternatives. B) Implement the decision. C) Establish long term and short term goals. D) Evaluate the results. Show Answer Correct Answer: C) Establish long term and short term goals. 17. Improving your job performance and accepting a job promotion is considered to be a A) Routine decision. B) Independent decision. C) Major decision. D) Work decision. Show Answer Correct Answer: D) Work decision. 18. Compliance is a decision making strategy in which a person ..... A) Pick the option with the lowest level of risk. B) Consider every possible option. C) Delay making a decision. D) Let someone else make the decision. Show Answer Correct Answer: D) Let someone else make the decision. 19. Once a problem has been identified, a manager should A) Solve it. B) Analyze the problem. C) Make a decision. D) Gather relevant information. Show Answer Correct Answer: D) Gather relevant information. 20. An opportunity cost is defined as: A) The profit of the next best alternative foregone. B) The additional (incremental) cost of accepting the order. C) The additional revenue if we do not drop the product. D) None of above. Show Answer Correct Answer: A) The profit of the next best alternative foregone. 21. They require serious thought and should be made in an orderly way, these decisions have a greater impact on your life A) Limbic System. B) Values. C) Minor Decisions. D) Major Decisions. Show Answer Correct Answer: D) Major Decisions. 22. Strategy in which a person avoids a decision or makes up an answer to deflect an injury A) Escape. B) Play it safe. C) Impulse. D) Compliance. Show Answer Correct Answer: A) Escape. 23. Situation where all the information the decision maker needs is fully available A) Ambiguity. B) Decision. C) Risk. D) Certainty. Show Answer Correct Answer: D) Certainty. 24. A ..... is a computer-based system that stores, organizes and provides information about a business. A) Management Information System (MIS). B) Management. C) Symptom. D) Problem. Show Answer Correct Answer: A) Management Information System (MIS). 25. In incremental analysis.. A) Only costs are analyzed. B) Only revenues are analyzed. C) Both costs and revenues may be analyzed. D) Both costs and revenues that stay the same between alternate courses of action will be analyzed. Show Answer Correct Answer: C) Both costs and revenues may be analyzed. 26. Who Said: "Only make decisions that support your self-image, your self esteem and your self-worth" A) Jeff Bezos. B) Oprah Winfrey. C) Anita Roddick. D) Karren Brady. Show Answer Correct Answer: B) Oprah Winfrey. 27. This kind of question is base on what could happen in the future. A) Transcriptive. B) Prescriptive. C) Descriptive. D) Predictive. Show Answer Correct Answer: D) Predictive. 28. A(n) ..... thinker approaches problems in a rational and analytic fashion. A) External. B) Systematic. C) Intuitive. D) Internal. Show Answer Correct Answer: B) Systematic. 29. A ..... is an experienced manager who meets regularly with a new manager to provide feedback and advice. A) Controlling. B) Administrative Management. C) Organizing. D) Work Coach. Show Answer Correct Answer: D) Work Coach. 30. The process of identifying problems and opportunities and then resolving them A) Decision making. B) Certainty. C) Social responsibility. D) Ambiguity. Show Answer Correct Answer: A) Decision making. ← PreviousNext →Related QuizzesDecision Making QuizzesAccounting QuizzesInformation For Decision Making Quiz 1Information For Decision Making Quiz 2Information For Decision Making Quiz 3Information For Decision Making Quiz 5Information For Decision Making Quiz 6Information For Decision Making Quiz 7Information For Decision Making Quiz 8Information For Decision Making Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books