22421 MDC

Revision practice for uni :)
Quiz by sereno
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Last updated: November 5, 2021
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First submittedNovember 5, 2021
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Average score38.8%
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Assumptions of Rationality
Problem clear
Alternatives Known
Criteria Measurable
No constraints
Final choice is maximum payoff
Criteria for Performance Measures
Validity
Reliability
Clarity
Accessibility
Cost Efficiency
Timeliness
Controllability
Cannot Game
Cannot Manipulate
Budgetary Styles
budget constrained
profit conscious
non-accounting
Decision Biases
sunk cost
confirmation
loss aversion
status quo
Performance Evaluation Types & Theories
relative
informal
formal
agency theory
expectancy theory
absolute
instrumentality
valence
expectancy
two-factor theory
Types of Costs
avoidable
opportunity
out of pocket
sunk costs
unavoidable
relevant
irrelevant
Heuristics & Ethical Decision Barriers
representative
availability
anchoring
motivated blindness
ill-conceived goals
indirect blindness
overvaluing outcomes
gradual decline
COSO Framework
Control Environment
Risk Assessment
control activities
Information and Communication
Monitoring activities
Data Anaytics
descriptive
diagnostic
predictive
prescriptive
Characteristics of Big Data
volume
veracity
velocity
variety
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