Question

Question 22 Which of the following is NOT one of the steps in the managerial decision-making process? Not yet answered Select one: Marked out of 2.00 p Flag question A. identifying alternative courses of action B. defining business goals C. gathering and analyzing relevant information O D. basing decisions on sunk costs

Answer 1

Question 1(22 per screen above):-

The correct answer for the question is Option D - Basing decisions on sunk costs. Sunk costs are costs that have already been spent and that cannot be changed or recovered. Hence, Managerial accounting would not focus on taking decisions based of the Sunk costs.

Option A is incorrect as managerial accounting involves taking decisions based on and making alternative course of plans for the business.

Option B is incorrect as one of the foremost skills of the Managerial accounting is to define the business goals.

Option C is incorrect as gathering and analyzing relevant information is part of the duties/responsibilities of a managerial accountant.

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