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1 place the five steps in the decision making process in the correct order a obtain 4300658


1) Place the five steps in the decision-making process in the correct order:

A = Obtain information

B = Make decisions by choosing among alternatives

C = Identify the problem and uncertainties

D = Implement the decision

E = Make predictions about the future

A) C D B E A

B) E D A B C

C) C A E B D

D) A E B D C

2) Planning consists of all of these areas EXCEPT:

A) selecting organizational goals

B) deciding how to attain the desired goals

C) evaluating performance

D) predicting results under various alternatives

3) The most important planning tool is a ________.

A) performance evaluation report

B) balanced scorecard

C) goal

D) budget

4) A report showing the actual financial results for a period compared to the budgeted financial results for that same period would most likely be called a:

A) strategic plan

B) management forecast

C) performance report

D) revised plan

5) The process of preparing a budget:

A) forces coordination and communication across business functions

B) increases accounting efficiencies

C) reduces overcapacity

D) promotes production automation

6) Planning includes all of the following EXCEPT

A) identifying the problem and uncertainties.

B) obtaining information.

C) providing feedback to help with future decision making.

D) making predictions about the future.

7) A budget:

A) is a quantitative expression of a proposed management plan

B) helps translate strategy into actions

C) aids in the coordination and communication among various business functions

D) All of these answers are correct.

8) A budget can serve as:

A) a planning tool

B) a control tool

C) a basis for preparing financial statements

D) a planning and control tool

9) Employees ________ how their performance is measured.

A) pay close attention to

B) pay no attention to

C) rarely know

D) None of the above are correct.

10) Linking rewards to performance:

A) helps to motivate managers

B) allows companies to charge premium prices

C) should only be based on financial information

D) All of these answers are correct.



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