Colette Received an Unusually High Grade of a on Her

question 11

Multiple Choice

Colette received an unusually high grade of A on her first biology test and a B+ on the second,even though she studied equally for both tests.Which of the following best explains Colette's deteriorating pattern of performance?

• A) illusory correlation
• B) the illusion of control
• C) the random sampling effect
• D) regression toward the mean

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Definitions:

Time Period Assumption

an accounting principle that divides an enterprise's life into small periods of time for reporting and analysis purposes.

Economic Life

The expected period over which an asset remains useful to the owner or until it can generate economic benefits.

Artificial Time Periods

Divisions of time, not naturally occurring, created for the purpose of financial reporting, budgeting, or project scheduling.

Economic Entity Assumption

An accounting principle that treats a company as a separate entity from its owners or shareholders for financial reporting purposes.