This quiz works best with JavaScript enabled. Home > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 21 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 21 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. EPOS is A) Electronic point of stock. B) Electronic place of stock. C) Ecommerce point of sale. D) Electronic point of sale. Show Answer Correct Answer: D) Electronic point of sale. 2. This is an example of a human resource A) Waitress. B) Food. C) Oven. D) Restaurant. Show Answer Correct Answer: A) Waitress. 3. After all process has been done. We need ..... A) Implementing the Decision. B) Evaluating the Decision. C) Analyzing Alternatives. D) Developing Alternatives. Show Answer Correct Answer: B) Evaluating the Decision. 4. Which one of the following sources of finance should a business use to solve a cash flow problem? A) A 5 year bank loan. B) A mortgage. C) An overdraft. D) Venture capital [1. Show Answer Correct Answer: C) An overdraft. 5. Generally, what time period are strategic decisions made for? A) +5 years. B) 12 monthsDaily. C) 12 months. D) None of above. Show Answer Correct Answer: A) +5 years. 6. Which of the following steps of the consumer decision making process involves comparing the product to expectations and deciding whether it is satisfying or dissatisfying? A) Alternative evaluation. B) Post-purchase evaluation. C) Information searching. D) Need identification. Show Answer Correct Answer: B) Post-purchase evaluation. 7. A person's need for respect belongs to which of the following levels of Maslow's hierarchy? A) Safety. B) Love. C) Esteem. D) Self-actualization. Show Answer Correct Answer: C) Esteem. 8. A common mistake made by managers facing crisis situations is that they ..... . A) Try to get too much information before responding. B) Rely too much on group decision-making. C) Isolate themselves to make the decision alone. D) Forget to use their crisis management plan. Show Answer Correct Answer: C) Isolate themselves to make the decision alone. 9. The role of management accounting includes what? A) Formulating plans. B) Budgets. C) Providing information to be used to control different parts of the entity. D) All answers above. Show Answer Correct Answer: D) All answers above. 10. What decision making tool uses money as a factor to determine the outcome? A) Cost-Benefit Analysis. B) SWOT. C) Decision Tree. D) ABC Chart. Show Answer Correct Answer: A) Cost-Benefit Analysis. 11. A ..... is an alternative course of action to be followed is a specific problem arises. A) Work Schedules. B) Contingency Plan. C) Symptom. D) Performance Review. Show Answer Correct Answer: B) Contingency Plan. 12. Which of the following is the most commonly used form of AI in the business arena? A) Intelligent system. B) Artificial intelligence. C) Expert system. D) Neural network. Show Answer Correct Answer: C) Expert system. 13. Which of the following is not the use of Analytics? A) Information Technology. B) Statistical Analysis. C) Data. D) Qualitative methods. Show Answer Correct Answer: D) Qualitative methods. 14. ..... is the process of making sure work meets acceptable standards A) Executive. B) Quality Control. C) Planning. D) Work Schedules. Show Answer Correct Answer: B) Quality Control. 15. Words used in spoken or written messages are: A) Senders. B) Gestures. C) Nonverbal symbols. D) Verbal symbols. Show Answer Correct Answer: D) Verbal symbols. 16. ..... their biased perceptions, which influence the information they pay attention to, the problems they identify, and the alternatives they develop. A) Confirmation bias. B) The framing bias. C) The anchoring effect. D) Selective perception. Show Answer Correct Answer: D) Selective perception. 17. Which of the following is a cognitive bias that contributes to the failure of decision makers to acquire enough information to make a good decision? A) Perceptual defence. B) Anchoring effect. C) Satisficing. D) Confirmation bias. Show Answer Correct Answer: D) Confirmation bias. 18. If a car buyer knows the inventory dealer price of the same car at different dealerships, he or she is operating under what type of decision-making condition? A) Risk. B) Uncertainty. C) Certainty. D) Factual. Show Answer Correct Answer: C) Certainty. 19. The value of the next best alternative when a decision is made. A) Opportunity cost. B) Value. C) Scarcity. D) Choices. Show Answer Correct Answer: A) Opportunity cost. 20. The concept of outsourcing services to countries with lower labor costs is known as A) Opportunity cost. B) Offshoring. C) Insourcing. D) International outsourcing. Show Answer Correct Answer: D) International outsourcing. ← 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