Formal method of making choices, considering help of quantitative and qualitative analysis is classified as
A. quantitative analysis
B. decision method
C. qualitative method
D. linearity method
Answer: Option B
Solution (By Examveda Team)
Formal method of making choices, considering help of quantitative and qualitative analysis is classified as decision method. Decision-making is the process of identifying and choosing alternatives based on the values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action.This Question Belongs to Management >> Management Accounting
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