Wiley Week5

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Wiley Plus Answers for Week 5

E23-1 (a)
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| Correct.|
Pender has prepared the following list of statements about decision making and incremental analysis. Identify each statement as true or false.
1.| The first step in management's decision-making process is, "Determine and evaluate possible courses of action."| False| 2.| The final step in management's decision-making process is to actually make the decision.| False| 3.| Accounting's contribution to management's decision-making process occurs primarily in evaluating possible courses of action and in reviewing the results.| True| 4.| In making business decisions, management ordinarily considers only financial information because it is objectively determined.| False| 5.| Decisions involve a choice among alternative courses of action.| True| 6.| The process used to identify the financial data that change under alternative courses of action is called incremental analysis.| True| 7.| Costs that are the same under all alternative courses of action sometimes affect the decision.| False| 8.| When using incremental analysis, some costs will always change under alternative courses of action, but revenues will not.| False| 9.| Variable costs will change under alternative courses of action, but fixed costs will not.| False|

E23-1 (b)
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| Your answer has been saved and sent to the instructor. See Gradebook for score details. | Pender has prepared the following list of statements about decision making and incremental analysis. Identify each statement as true or false.

1.| The first step in management's decision-making process is, "Determine and evaluate possible courses of action."| 2.| The final step in management's decision-making process is to actually make the decision.| 3.| Accounting's contribution to management's decision-making process occurs primarily in evaluating possible courses of action and in reviewing the results.| 4.| In making business...
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