According to the Text, _______________ Tends to Make People Overconfident

question 39

Multiple Choice

According to the text, _______________ tends to make people overconfident about their ability to predict something that, at the time it was unfolding, they had no idea how it will all turn out.

• A) the fundamental attribution error
• B) illusory correlation
• C) the naturalistic fallacy
• D) the hindsight bias

---

Definitions:

FIFO Inventory Costing

A method of inventory valuation where the cost of goods sold is based on the oldest inventory prices, which stands for "First In, First Out."

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.

Goods Available for Sale

The total quantity of goods that a company has at its disposal to sell during a certain period, including both its initial inventory and purchases made.

Inventory Safeguarding

Measures and controls implemented by a business to protect its inventory from loss, theft, or damage.