Personal Decisions The decision-making process is not unique to business and not-for-profit organizations. As individuals, we often

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Personal Decisions The decision-making process is not unique to business and not-for-profit organizations. As individuals, we often must go through the same basic process in our personal lives. During the last week of classes before f yy spring break, you learn that your grandmother has fallen and fractured her hip. Your parents indicate she will be in the hospital for approximately three weeks and then discharged.

Unfortunately, no close relatives live in the same area as your grandmother, and she will not be able to care for herself for several more months. Your parents have asked you to go to the community where your grandmother lives and see if you can select a nursing home where your grandmother can live until she is ready to resume living independently.

a. What information will you accumulate about care facilities in the community before making a choice?

b. How might you summarize the information you have obtained to make it more useful? How might you use sum- ™

marized information from other sources?

c. Your grandmother has limited funds and has never thought of living in a care facility. While she seems mentally alert, she is somewhat easily confused by questions about her cash inflows and outflows and about her financial situation. What information will you communicate to her?

d. There may be some question as to who will be the decision maker in this case. If your grandmother makes choices, who should she consult before making a final decision?

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Financial Accounting A Decision Making Approach

ISBN: 9780471328230

2nd Edition

Authors: Thomas E. King, Valdean C. Lembke, John H. Smith

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