Which of the following is the first step in the decision-making process?
A) Evaluate the cost and revenue data
B) Identify workable alternatives
C) Define the problem
D) Consider appropriate nonfinancial factors

Question

Quizplus · Accepted Answer

The first step in the decision-making process is to define the problem. Without a clear understanding of the problem, it will be difficult to identify alternatives or evaluate cost and revenue data. Once the problem is defined, then workable alternatives can be identified, followed by considering appropriate nonfinancial factors and evaluating cost and revenue data.

Which of the Following Is the First Step in the Decision-Making