Which of the Following Is Not an Approach to Determining

question 1

Multiple Choice

Which of the following is not an approach to determining current value?

• A) Replacement cost
• B) Thrift value
• C) Selling price
• D) Discounting present value

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Definitions:

Cognitive Dissonance Theory

The Cognitive Dissonance Theory proposes that people experience discomfort (dissonance) when their beliefs or actions contradict each other, prompting them to alter their attitudes or behaviors to reduce the dissonance.

Festinger and Carlsmith

refers to the researchers Leon Festinger and James M. Carlsmith, known for their classic 1959 study on cognitive dissonance, showing how inconsistencies between attitudes and behaviors lead to psychological discomfort and a drive to resolve it.

Festinger's Report

Refers to works by social psychologist Leon Festinger, notably involving his theory of cognitive dissonance which highlights the discomfort felt at having conflicting beliefs or behaviors.

Prophecy

A prediction or message that is claimed to have been communicated to a prophet, often involving the foretelling of future events.