Question
A cheque is received from a creditor and paid into the
bank on the same day. How will this transaction be recorded in the cashbook?Solution
When a cheque is received from a creditor and deposited into the bank on the same day, the transaction will be recorded in the bank column of the cashbook. This is because the amount of the cheque will increase the bank balance of the business. The cash column of the cashbook is used to record cash transactions, whereas the bank column is specifically used to record transactions related to the bank account, including deposits and withdrawals.
What do we call a course of action purposely chosen from a set of options to achieve organizational or managerial objectives or goals?
Which of the following is NOT a step in the decision-making process for managers?
Decision making process first requires identification of problem. Which of the following types of problems can be considered here?
Which of the following is a common bias that can affect managerial decision-making?
Decision making is ____________
Why is it necessary to eliminate other solutions in the decision-making process?
Why is it crucial to clearly define the problem in decision-making?
The __________ management function is most closely related to decision making.
How can the SWOT analysis be useful in eliminating other solutions?
What is a potential drawback of relying solely on intuition when identifying possible solutions?
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