Efficient decision-making tends to consider relevant information only and this information focuses on incremental revenue and expenses.

Question

Quizplus · Accepted Answer

Efficient decision-making should consider only relevant information, which includes incremental revenue and expenses. This means that decision-makers should assess the potential increase in revenue and decrease in expenses associated with a particular decision, and weigh these against the costs of implementing the decision. By focusing on the most relevant information, decision-makers can make more informed and effective choices that will benefit their organization in the long run.

Efficient Decision-Making Tends to Consider Relevant Information Only and This