This quiz works best with JavaScript enabled. Home > Accounting > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 7 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Step 1 in the decision making process A) List your choices. B) Identify your problem. C) Make a choice. D) None of above. Show Answer Correct Answer: B) Identify your problem. 2. Consumers make three types of purchases: ....., Repeat Purchases and Long Term Commitment Purchases. A) Trial Purchases. B) Spontaneous Purchases. C) Member Purchases. D) Promotion Purchases. Show Answer Correct Answer: A) Trial Purchases. 3. Payables are the value of: A) Money owed to a firm by customers. B) Money owed to suppliers by a business. C) Inventory held by a business. D) A firm's overdraft from its bank. Show Answer Correct Answer: B) Money owed to suppliers by a business. 4. To stop developing, growing, progressing or advancing A) Impulse. B) Stagnation. C) Agony. D) Compliance. Show Answer Correct Answer: B) Stagnation. 5. Even the most creative manager might find it difficult to be effective if his/her boss were too A) Friendly. B) Asserive. C) Controlling. D) None of above. Show Answer Correct Answer: C) Controlling. 6. Which if the following is considered external stimuli? A) Fatigue. B) Television Advertising. C) Hunger. D) Thirst. Show Answer Correct Answer: B) Television Advertising. 7. The result that a person aims for and works hard to reach is called ..... A) Scarcity. B) Goal. C) Opportunity Cost. D) None of these answers. Show Answer Correct Answer: B) Goal. 8. Which of the following would be a relevant cost that would need to be considered for pricing a special order? A) Existing fixed manufacturing overhead. B) Additional set-up costs for the special order. C) . Non-manufacturing costs that will not change even if the special order is accepted. D) None of above. Show Answer Correct Answer: B) Additional set-up costs for the special order. 9. Working capital is calculated by: A) Subtracting total liabilities from total assets. B) Calculating the total value of liquid assets. C) Subtracting total expenses from total revenue. D) Subtracting cash outflow from cash inflow. Show Answer Correct Answer: A) Subtracting total liabilities from total assets. 10. CONSUMER BEHAVIOUR talks about how consumers make purchase decisions, ..... and dispose of products. A) Use. B) Choose. C) Accept. D) Offer. Show Answer Correct Answer: A) Use. 11. When you have enough information, ..... your choices. A) Detail. B) Analyze. C) Justify. D) Execute. Show Answer Correct Answer: B) Analyze. 12. Successful managers are A) Communicators. B) Relationship builders. C) Decision makers. D) All of the responses. Show Answer Correct Answer: D) All of the responses. 13. Uses estimates and probabilities to calculate likely outcomes and helps to decide whether the net gain from a decision is worthwhile A) Decision Tree. B) Scientific Decision. C) Strategic Decision. D) Critical Path Analysis. Show Answer Correct Answer: A) Decision Tree. 14. Your potential for learning a certain skill A) Goal. B) Self-concept. C) Data. D) Aptitude. Show Answer Correct Answer: D) Aptitude. 15. Having a group spontaneously suggest a broad range of alternatives for making a decision A) Devil's advocate. B) Escalating commitment. C) Brainstorming. D) Groupthink. Show Answer Correct Answer: C) Brainstorming. 16. What occurs once in every minute, twice in every moment, yet never in a thousand years? A) The letter t. B) The letter m. C) 60 seconds. D) The letter e. Show Answer Correct Answer: B) The letter m. 17. What information condition lies between certainty and uncertainty in making decisions? A) Decision rules. B) Risk. C) Guesswork. D) Problem solving. Show Answer Correct Answer: B) Risk. 18. This type of question is basically about what is happening. A) Predictive. B) Transcriptive. C) Descriptive. D) Prescriptive. Show Answer Correct Answer: C) Descriptive. 19. A decision maker's actions should be guided by ..... A) Personal opinions. B) A code of honor. C) A goal. D) Interpersonal relationships. Show Answer Correct Answer: C) A goal. 20. When making decisions, a person should try to avoid which of the following? A) Identifying relevance. B) Making diagrams. C) Getting help from a colleague. D) Listening to the impulses. Show Answer Correct Answer: D) Listening to the impulses. 21. The last step in your decision making process should be A) Weight the consequences. B) Decide!. C) List your options. D) Evaluate your decision. Show Answer Correct Answer: D) Evaluate your decision. 22. Studies on topics such as the supply and demand of labor and employee motivation would most likely be examples of A) Product development research. B) Marketing research. C) Human resource studies. D) What-if analysis. Show Answer Correct Answer: C) Human resource studies. 23. A Consensus-Based decision-making style should be used for ..... decisions. A) Low risk. B) High risk. C) Low urgency. D) High urgency. Show Answer Correct Answer: C) Low urgency. 24. Which of the following is NOT an emotional block which hinders decision making? A) Stagnation. B) Fear of success. C) Activation. D) Fear of failure. Show Answer Correct Answer: C) Activation. 25. What is always the question to ask to determine if revenues or costs are relevant? A) How much will it cost?. B) What difference will an action make?. C) What is the time frame for achieving results?. D) Who will be responsible?. Show Answer Correct Answer: B) What difference will an action make?. 26. Almost all major purchases result in some degree of ..... caused by post-purchase conflict A) Comfort. B) Passion. C) Discomfort. D) Compassion. Show Answer Correct Answer: C) Discomfort. 27. The moral beliefs that guide the way a person lives. A) Decision. B) Values. C) Character. D) Role Model. Show Answer Correct Answer: B) Values. 28. Generally, what time period are operational decisions made for? A) Daily. B) 12 months. C) +10 years. D) None of above. Show Answer Correct Answer: A) Daily. 29. Consumers have already established the basic criteria for evaluating the product category but haven't established preferred categories ..... A) Routine Rensponse Behaviour. B) Limited Problem Solving. C) Extensive Decision Making. D) All answers are correct. Show Answer Correct Answer: B) Limited Problem Solving. 30. What field of study is concerned with planning physical layout, furnishings, and equipment for a business environment and analyzes for maximum efficiency. A) Operations. B) Ergonomics. C) Utilization. D) Architecture. Show Answer Correct Answer: B) Ergonomics. ← 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 4Information For Decision Making Quiz 5Information For Decision Making Quiz 6Information For Decision Making Quiz 8Information For Decision Making Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books