The Objective of Profit Maximization

question 55

Multiple Choice

The objective of profit maximization

• A) should be the only goal of an organization.
• B) is an objective of financial accounting but not managerial accounting.
• C) should be achieved through legal and ethical means.
• D) should outweigh the goal of product quality.

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.

Stereotypes

Oversimplified generalized beliefs about a group of people that may not accurately represent the diversity within the group.

System I

A term often used to describe fast, automatic, intuitive forms of thinking, as opposed to slower, more rational deliberation.