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Ch 9 4e - Multiple Choice Quiz 1 of 2...

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Multiple Choice Quiz (See related pages) 1 What is the first step in the decision making process? A) Specify the criteria by which the decision is to be made. B) Consider the strategic issues regarding the decision context. C) Perform an analysis in which the relevant information is developed and analyzed. 2 When is depreciation NOT considered a sunk cost in decision-making? A) When deciding whether or not to accept a special order. B) When deciding whether or not to upgrade factory equipment. C) When determining the optimal product mix. D) When tax effects are considered. 3 Committed or "sunk" costs are generally: A) not fixed. B) small in amount. C) from bad decisions. D) in the past. E) recoverable in trade. 4 Operating at or near full capacity will require a firm considering a special order to recognize the: A) opportunity cost arising from lost sales. B) value of full employment. C) time value of money. D) need for good management. E) value of saying "No." 5 The value chain analysis in make-lease-buy decisions often leads a firm to make use of: A) conflict resolution.
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