Which of the following statements about the cost-benefit approach is true?

Question

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The cost-benefit approach involves evaluating whether the benefits of a decision outweigh the costs of that decision, and resources should only be spent if they are expected to better attain company goals in relation to the expected costs of these resources. Option B is incorrect because obtaining costs and benefits may not always be easy. Option C is incorrect because if the benefits outweigh the costs, resources should be spent. Option D is incorrect because a cost-benefit approach can be used for any decision that involves costs and benefits, including the decision to install a budget system. Option E is incorrect because behavioural considerations, such as employee morale, should also be taken into account in a cost-benefit analysis.

Which of the Following Statements About the Cost-Benefit Approach Is