Match the Following Terms with Their Correct Definition

question 169

Multiple Choice

Match the following terms with their correct definition.
-A bank reconciling item that must be subtracted from the unadjusted book balance when preparing a bank reconciliation

• A)Bank reconciliation
• B)Deposit in transit
• C)Non-sufficient funds check
• D)Outstanding check
• E)Service charges

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Definitions:

Illusory Correlations

The perception of a relationship between two variables when none actually exists.

Memory Biases

The tendency for memory to be distorted by previous experiences, desires, or the current emotional state.

Representativeness Heuristic

A belief that outcomes will always reflect characteristics of the process that generated them (e.g., an expectation that the outcome of a series of coin flips will always look random).

Coin Flips

A random process used to generate two equally likely outcomes, typically representing "heads" or "tails."