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Decision Making Environment
There are four main environments within that decisions can be done. These are:
• Certainty• Risk• Fundamental uncertainty• Competition• Certainty environmentIn 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.
Stages in the performance budgeting The stages in the performance budgeting is enumerated as follows: 1) Establishment of goals objectives and policies: data collection revi
Feedback Control System Feedback is information about actual achievements or actual results produced within the organization (e.g. management control reports) with the purpose
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Variances Analysis Variances are the differences between actual results and expected results. Expected results are the standard costs and standard revenues. Price, rate and
Anthony''s orchard
Difficulties in cost reduction 1) Resistance by employees to pressure to reduce cost usually because the nature and purpose of the campaign has not been properly explained to t
HGT Company initialized the accounting period with the following beginning balances: During the accounting period, the company purchased $60,000 of raw materials and ended
Explain Ranking of decision packages - zero base budgeting Ranking of decision packages: by ranking the decision packages a company will be able to weed out a lot of marginal e
Question 1: i) Explain the process of financial intermediation and discuss the existence of banks. ii) Examine the implications of the existence of financial intermediarie
INVENTORY CONTROL DECISIONS Factories, workshops, engineering departments handle raw materials used in the manufacture of products. The main objectives in handling these materi
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