Discuss decision-making techniques as it relates to managerial accounting.
Refer to Accounting in a Nutshell, page 287, Self-Test Question 4 (solution provided in the text.)
Using this information, respond to the following:
What decision making model would you use to make this decision?
Are any of the decision-making traps discussed in our text in danger of clouding your judgment?
Would any of the tools and techniques for making better decisions assist us in this decision?
What is your final decision and why?