"The accounting decision making model is not useful in real life because it only looks at the numbers." Critique this statement and give an example for which it does not hold true
The decision-making model described in Chapter 11 does indeed focus on quantitative factors. However, before the decision is made, the decision maker must identify the relevant qualitative factors and use them in making his/her decision. For example, a student may be considering graduate school and look at a number of schools. The low cost school may be farther from home and have a lesser reputation than another, higher cost, school. The student might rationally choose the higher cost, higher reputation school.
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According to philosopher Norman Bowie, managers have a responsibility to maximize profits as long as they:
A. contribute to charitable organizations. B. respect human rights and cause no harm. C. are confident and do charitable work. D. adhere to rules and regulations.
Which of the following is a common error that MOST hinders the accurate interpretation of data?
a. Interpretation of results from a large sampling b. Tabulation of a questionnaire with many items c. Assumption of a cause-effect relationship when one does not exist d. Application of statistical analysis
In the context of analyzing research data, which of the following best describes the role of the median??
A) ?The median assists a researcher in understanding the distribution of scores of a study. B) ?The median helps describe the average value of the distribution of scores of a study. C) ?The median helps determine a possible relationship between answers to two different items. D) ?The median reduces quantitative data such as numerous answers to questionnaire items.
The first step in making sure you collect on a homeowners' covered loss is
A) documentation. B) notification. C) evaluation. D) arbitration.