Emily Bradly Is Part of a Team at Work That

question 45

Multiple Choice

Emily Bradly is part of a team at work that has been charged with the responsibility of researching differences between IFRS and U.S. GAAP. The team reaches a consensus on a given topic that Emily does not agree with. Not wanting to enter into a conflict, Emily agrees with the group. What type of bias is represented in the in the above scenario?

• A) availability bias
• B) overconfidence bias
• C) confirmatory bias
• D) groupthink bias

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Definitions:

Discount Rate

The interest rate used in discounted cash flow analysis to determine the present value of future cash flows.

Expected Long-Term Rate

An estimate of the rate of return or interest rate over a long-term investment or obligation.

Net Gain Or Loss

The overall financial result after all revenues are added and all expenses are subtracted.

Settlement Or Curtailment

Events that significantly reduce or eliminate the obligations or service period of a pension plan or other long-term benefits, requiring special accounting treatment.