Exercise 26-1 As a study aid, your dassmate Pascal Adams has prepared the folowing list of statements about deaision-making and incremental analysis. Identify each statement as true or false. 1. The first step in management's decision-making process is, "Determine and evaluate possible courses of action. 2. The final step in management's decdision-making process is to actually make the decision. 3. Accounting's contribution to management's deision-making process occurs primanily in evaluating possible courses of action and in reviewing the results. 4. In making business deaisions, management ordinarily considers only finanoal information because it is objectively determined 5. Decisions involve a choice among alternative courses of action 6. The process used to identily the financial data that change under alternative courses of action is called incremental analysis 7. Costs that are the same under all alternative courses of action sometimes affect the deaision 8. When using incremental analysis, some costs wil always change under alternative courses of action, but revenues will not. 9. Variable costs will change under alternative courses of action, but fixed costs will not