As You Sit in Class and Look at Your Psychology

question 43

Multiple Choice

As you sit in class and look at your psychology professor,you begin to think of all the traits that are generally associated with college professors and think about other college professors that you have had in the past.This is an example of a(n) :

• A)impression.
• B)category.
• C)schema.
• D)heuristic.

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Definitions:

Liability

A financial obligation or debt that an individual or company owes to another party.

Asset

An economic resource owned or controlled by an entity that is expected to provide future economic benefits.

Income Summary

An account in the ledger that aggregates all the revenues and expenses for the period, used to transfer net income or loss to owner's equity.

Merchandise Inventory

Goods a company holds for the purpose of sale to customers.