$7$

$1$ point

When making decisions in a business environment, managers often weigh the advantages and disadvantages of different courses of action to determine the most beneficial outcome. Which of the following statements best reflects this decision$-$making process?

Resources should be spent if the expected costs exceed the expected benefits of the company.

In a cost$-$benefit analysis, both costs and benefits are not easy to measure.

Managers should follow the five step$-$decision making process to avoid confirmation bias and make better decisions.

Resources should be spent if the costs of a decision outweigh the benefits of the decision.

A cost$-$benefit approach would not be appropriate for a decision to install a budgeting system.