The third step in decision making process is ____________?
Correct answer: C. making predictions
- A. linear predictions
- B. dependent predictions
- C. making predictions
- D. independent predictions
Explanation
After identifying the decision and considering the available alternatives, the process proceeds to making predictions about the costs and outcomes of each alternative. These predictions support the final choice.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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