This quiz works best with JavaScript enabled. Home > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 12 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In make or buy decision, qualitative factors that should be in consideration is: ..... A) The suppliers' trustworthiness. B) The quality of the products. C) Humanity factor in terminating existing employees. D) All of the above. Show Answer Correct Answer: D) All of the above. 2. Some months have 31 days. How many have 28? A) None. B) 1. C) 11. D) 12. Show Answer Correct Answer: D) 12. 3. The book value of an asset such as equipment is an example of: A) A future cost. B) A sunk cost. C) An opportunity cost. D) None of above. Show Answer Correct Answer: B) A sunk cost. 4. A process for identifying and furthering an organization's mission is called: A) Strategic management. B) Tactical managment. C) Short-term management. D) Operational management. Show Answer Correct Answer: A) Strategic management. 5. The formula for calculating break-even output is: A) Total Costs/Contribution per unit. B) Fixed Costs/Contribution per unit. C) Fixed Costs/Total Contribution. D) Total Costs-Total Revenue. Show Answer Correct Answer: B) Fixed Costs/Contribution per unit. 6. Options are A) The different choices you have. B) The things that are important to you. C) What happens after your choice. D) None of above. Show Answer Correct Answer: A) The different choices you have. 7. The final step in the problem-solving process is to A) Analyze the solutions. B) Evaluate the decision. C) Identify the problem. D) Select the best solution. Show Answer Correct Answer: B) Evaluate the decision. 8. Which of the following information about a car does CARFAX.com NOT provide? A) Number of previous owners. B) Accident record. C) Previous purchase price. D) None of above. Show Answer Correct Answer: C) Previous purchase price. 9. Consistency in policy development and enforcement in practices is called: A) Policy foresight. B) Practicality. C) Fairness. D) Democratic enforcement. Show Answer Correct Answer: C) Fairness. 10. Rational decision making is best used A) When you need to make a decision based on facts. B) When you base a decision on a hunch. C) You should always use this way, when possible. D) None of these. Show Answer Correct Answer: C) You should always use this way, when possible. 11. Humans are cognitive misers A) We want to use as much brain power as we can. B) We want to use as little cognitive energy as possible. C) We don't like spending much money on thinking. D) We want to use as little time thinking as possible. Show Answer Correct Answer: B) We want to use as little cognitive energy as possible. 12. Companies must measure customer satisfaction ..... A) Regularly. B) Often. C) Ocassionally. D) Once a year. Show Answer Correct Answer: A) Regularly. 13. ..... describes when decision makers try to create meaning out of random events. A) The randomness bias. B) The sunk costs error. C) The availability bias. D) Representation bias. Show Answer Correct Answer: A) The randomness bias. 14. Strategy in which a person goes with their first reaction A) Escape. B) Play it safe. C) Impulse. D) Agony. Show Answer Correct Answer: C) Impulse. 15. When a manager asks subordinates for info-but still makes the decision alone, this is what type of decision making? A) Autocratic. B) Accommodating. C) Collaborative. D) Semi-autocratic. Show Answer Correct Answer: D) Semi-autocratic. 16. Process in which an individual creates personal experience by selecting, organizing and interpreting information available to him or her A) Perception. B) Motivation. C) Culture. D) None of above. Show Answer Correct Answer: A) Perception. 17. What does a customer try to achieve by asking "what problem am I trying to solve? " A) Conducting product research. B) Identifying the needs. C) Listing the attributes. D) Comparing the items. Show Answer Correct Answer: B) Identifying the needs. 18. Which of the following questions measures a person's activity? A) Do you agree the U.S. medical system needs reform?. B) How important is it to you to try new food?. C) How often do you visit shopping malls?. D) Do you enjoy reading?. Show Answer Correct Answer: C) How often do you visit shopping malls?. 19. ..... involves managing work schedules to achieve maximum productivity. A) Time Management. B) Work Schedules. C) Business Management. D) Staffing. Show Answer Correct Answer: A) Time Management. 20. Managers need to make decisions at the right A) Place. B) Office. C) Time. D) None of the above. Show Answer Correct Answer: C) Time. ← PreviousNext →Related QuizzesDecision Making 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 7Information For Decision Making Quiz 8Information For Decision Making Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books