Decision making environment, Managerial Accounting

Decision Making Environment

There are four main environments within that decisions can be done. These are:

•    Certainty
•    Risk
•    Fundamental uncertainty
•    Competition
•    Certainty environment

In this environment whole information is available as to which states of nature will take place. The decision making procedure just includes picking the best alternative.

Posted Date: 12/4/2012 6:45:20 AM | Location : United States

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