A Person Approaches You on the Street and Asks for Directions.While

question 24

Multiple Choice

A person approaches you on the street and asks for directions.While you are talking,two people carry a door between you and the person to whom you are speaking.While the door is passing,the person you are talking to is replaced by a different person.If you are like the people in studies by Simons and Levin,you will ______.

• A)immediately notice the change
• B)only notice if the two people are of different heights
• C)have only about a 50% chance of noticing the switch
• D)only notice if the two people have noticeably different voices

Understanding expense recognition principles and their application to matching expenses against revenues.

Understand the factors and components involved in calculating the loss on sale of a business component.

Differentiate between revenues and gains as well as understand the nuances and GAAP provisions regarding their distinction.

Identify elements included and excluded from the calculation of the cost of goods sold.

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Definitions:

Cognitions

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses.

Fundamental Attribution Error

The tendency to overemphasize personality traits and underestimate situational factors when evaluating others' behaviors.

Detect Causes

The process of identifying factors or conditions that lead to the occurrence of a particular event or phenomenon.

Stereotypes

Widely held but fixed and oversimplified images or ideas of a particular type of person or thing, which often do not reflect reality.