Bruce Is Furious When His Midterm Is Returned with a C

question 9

Essay

Bruce is furious when his midterm is returned with a C grade. He tells his sociology professor that he had read each of the assigned chapters three times and if someone can do that and just be average then there is something wrong with the test! Based on your understanding of critical thinking and memory, what is wrong with Bruce's reasoning? What are some other possible explanations for Bruce's average performance? How could Bruce study more effectively?

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Definitions:

Mortgage

A loan secured by real property, typically used to purchase that property.

Book Value

The value of an asset according to its balance sheet account balance, taking into account the cost of the asset minus accumulated depreciation.

Fair Value

The estimated price at which an asset or liability could be bought or sold in a current transaction between willing parties, other than in a liquidation sale.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded over time for fixed assets, signifying the reduction in their value.