Decision making under uncertainty where different outcomes are possible with different probabilities form the basis of risky decision making.
Before going any further, it is important to establish the distinction between risk and uncertainty because the two are frequently confused. We went into great detail about the distinctions between risk and uncertainty. Making Decisions in an Uncertain World Even though we are aware that outcomes are unpredictable, we don't try to give them probabilities.
The components of risky decision include:
A risk assessment process, determination of the likelihood and probability of a risk occurrence and its consequences (qualitatively and quantitatively), as well as risk characteristics and factors including its onset and duration, Risky decisions (prioritization, mitigation, and treatment), a risk representation system (risk matrix or heat map).
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Answer:
<u>D. Happenstance.</u>
Explanation:
The fact that German firms were nationalized has often been regarded as mere happenstance; meaning it just occurred based on the circumstances they were in immediately after World War II.
It thus encompasses several factors such as the cost of operations, changes in government, etc, not just one factor.
Answer:
B-debit to Sales Discounts for $100
Explanation:
The journal entry is shown below to record the sale:
a. Accounts receivable A/c Dr $5,000
To Sales revenue $5,000
(Being merchandise is sold on a credit basis)
If the payment is made within 10 days, the journal entry would be
Cash A/c Dr $4,900
Sales discount A/c $100 ($5,000 x 2%)
To Accounts receivable A/c $5,000
(Being cash is received)
Answer:
the high-low method
Explanation:
The high-low method -
It is the method used by comparing the total cost of the highest level of activity with the lowest level of activity , is referred to as the high - low method.
This method is used in order to separate the fixed and variable costs for a limited amount of data .
Hence , this method compare the data of two points .
Therefore , the correct option from the given options is the high - low method.