The tendency of a group to settle on a decision that is "good enough" is called
A. goal displacement.
B. satisficing.
C. groupthink.
D. heuristics.
E. pseudo-optimization.
B. satisficing.
Because most people would just as soon cut short a group meeting, the tendency is to seek a decision that is "good enough" rather than to push on in pursuit of other possible solutions. Satisficing can occur because groups have limited time, lack the right kind of information, or are unable to handle large amounts of information.
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Upon review of Jan's Lakeside Resort statement of cash flows, the following was noted: Cash flows from operating activities $ 35,000 Cash flows from investing activities 75,000 Cash flows from financing activities (125,000) From this information, the most likely explanation is that Jan is
a. using cash from operations and selling long-term assets to pay back debt b. using cash from operations and borrowing to purchase long-term assets. c. using its profits to expand growth. d. using cash from investors to provide for operations.
A company's Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense for the year is $3,100, what amount of office supplies was purchased during the period?
A. $2,900. B. $3,700. C. $3,300. D. $2,700. E. $3,500.
Which of the following is not included in the highest authoritative level of GAAP?
a. FASB Statements b. AICPA Statements of Position c. FASB Staff Positions d. Accounting Principles Board (APB) Opinions
The value chain in a company begins with
A) the customer. B) marketing and sales. C) new product development. D) operations.