Question

Quantitative financial information are not the only information managers need to consider in making an informed...

Quantitative financial information are not the only information managers need to consider in making an informed managerial decisions, they also recognize the relevance of qualitative information. Justify the contention.

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Quantitative and qualitative information are both required in making an informed decision. YES, that's correct.

When managers make business decisions they take into account reputation, brand strenght and morale of the employees, relationship and commitment with suppliers , long term future effect on profitability. Decisions that can hamper the reputation of the company in any form are avoided and decisions are taken which favour employees, brand image .The quantitative information like sales figure, profits and return on investment , all these quantitative factors which are numerical outcomes that are obtained from a decision are considered before taking a decision. Any decision that can harm sales, profits and ROI are avoided by managers.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following statements about making decisions is correct? Only relevant financial information should be...
Which of the following statements about making decisions is correct? Only relevant financial information should be considered. All information should be considered in the final decision. Management should consider both relevant financial and non-financial information. Management accountants should provide the information, but they should not make recommendations. It is up to the managers to make decisions.
Managerial accounting provides financial information to managers. creditors. investors. the Internal Revenue Service.
Managerial accounting provides financial information to managers. creditors. investors. the Internal Revenue Service.
TRUE OR FALSE 2) The managerial accountant's primary role in the decision-making process is to decide...
TRUE OR FALSE 2) The managerial accountant's primary role in the decision-making process is to decide what information is relevant to the problem and provide timely and accurate data. 3) In the final analysis of a decision, quantitative measures are more important than qualitative measures. 4) The concept of a relevant cost can be defined as a past cost that differs among alternatives. 5) In most all decisions, joint costs are relevant costs
Which type of accounting provides managers and employees with the information needed to make decisions about...
Which type of accounting provides managers and employees with the information needed to make decisions about a firm's financing, investing, marketing, and operating activities? a. Government accounting b. Not-for-profit accounting c. Cost accounting d. Managerial accounting e. Financial accounting
Discuss the following question: Is non-financial information ever useful in managerial decision making. Give a possible...
Discuss the following question: Is non-financial information ever useful in managerial decision making. Give a possible example.
Accounting systems generally produce information about numbers - certainly necessary for both decision-making and control. However,...
Accounting systems generally produce information about numbers - certainly necessary for both decision-making and control. However, other information is also needed in both decision-making and control. Discuss the non-quantitative information that could prove useful to management, indicating the types of decisions and/or control issues where it would prove helpful.
Managerial accounting focuses internally and often is part of a company's process making the information about...
Managerial accounting focuses internally and often is part of a company's process making the information about these processes more proprietary. While stockholders also need to evaluate information, there is a line between providing transparency to investors and sharing trade secrets with competitors. In managerial accounting, we ALWAYS evaluate every decision from a cost/benefit perspective. What is the cost when we share too much information publicly
What differentiates a sunk cost from a relevant cost? a. A sunk cost occurred in the...
What differentiates a sunk cost from a relevant cost? a. A sunk cost occurred in the past and doesn’t affect decision making. A relevant cost differs between alternatives and is used in decision making. b. A relevant cost occurred in the past and doesn’t affect decision making. A sunk cost differs between alternatives and is used in decision making. c. Both costs are used is decision making. d. Neither cost is used in decision making. What is true of opportunity...
As a financial advisor, you are assigned a new client who is considering investing in one...
As a financial advisor, you are assigned a new client who is considering investing in one of two stocks, A or B. The table below shows information about the performance of stocks A and B last year. (Average) Return Standard Deviation Stock A 15% 8.3% Stock B 15% 2.1% What factors would you consider as a financial advisor in making decisions about the data above? Based on these factors, what stock would you recommend to the client? What reasons will...
As a financial advisor, you are assigned a new client who is considering investing in one...
As a financial advisor, you are assigned a new client who is considering investing in one of two stocks, A or B. The table below shows information about the performance of stocks A and B last year. (Average) Return Standard Deviation Stock A 15% 8.3% Stock B 15% 2.1% What factors would you consider as a financial advisor in making decisions about the data above? Based on these factors, what stock would you recommend to the client? What reasons will...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT