Schemas and Scripts Are Valuable Memory Tools Because They

question 183

Multiple Choice

Schemas and scripts are valuable memory tools because they

• A)assist us in interpreting new and unfamiliar situations.
• B)facilitate the encoding of information in memory.
• C)often oversimplify a complex reality.
• D)reduce the amount of information that must be stored in long-term memory.

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Definitions:

Fair Market Value

The price that property would sell for on the open market between a willing buyer and a willing seller, each having reasonable knowledge of all relevant facts.

Valid Consideration

Anything of value promised to another when making a contract that is legal and results in the formation of a binding agreement.

Uniform Commercial Code

An extensive collection of statutes that regulate every aspect of business dealings within the United States, aimed at standardizing the legal framework for sales and various commercial activities throughout the states.

Paid-In-Full

A status indicating that a debt or obligation has been completely settled or paid off.