Memories of General Knowledge, Including Facts, Rules, Concepts and Propositions

question 70

Multiple Choice

Memories of general knowledge, including facts, rules, concepts and propositions, are called:

• A) procedural memories.
• B) semantic memories.
• C) implicit memories.
• D) episodic memories.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or volume of output, such as materials and labor directly involved in a company's manufacturing process.

Required Rate of Return

The minimum return an investor expects to achieve by investing in a particular asset, taking into account its risk level.

Break-Even Quantity

Break-even quantity is the number of units that must be sold for total revenues to equal total costs, at which point the company makes no profit but also incurs no loss.

Discounted Payback

A capital budgeting technique that calculates the amount of time needed to recoup an investment based on the present value of its cash flows, accounting for the time value of money.