__________ Thinking Works Pretty Well for Routine Problem Solving but May

question 172

Multiple Choice

__________ thinking works pretty well for routine problem solving but may be of little use when a more creative solution is needed.

• A) Heuristic
• B) Divergent
• C) Insightful
• D) Convergent

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Definitions:

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Fees Earned

Income received from providing services, a form of revenue for professionals and businesses engaged in service activities.

Interest Income

Revenue earned from the investment of funds in interest-bearing accounts or securities, such as bonds or savings accounts.

Rent Expense

An expense account recording the cost incurred by a business to rent facilities or equipment.