Your Best Friend Asks to Borrow $100 Until Next Week

question 41

Multiple Choice

Your best friend asks to borrow $100 until next week. You say no. He then asks if he can borrow $20 and you agree. You have fallen victim to

• A) the fundamental error
• B) lowballing
• C) the primacy effect
• D) the door-in-the-face technique
• E) the foot-in-the-door technique

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Definitions:

Direct Labor Cost

The total cost of all labor directly involved in the production of goods or services, excluding indirect labor costs.

Labor Cost

The total expenses associated with employing labor, including wages, benefits, and taxes.

Cash Budget

A financial plan that estimates cash inflows and outflows over a certain period of time, often used for managing liquidity.

Cash Receipts

are documents or records of the actual cash received by a business from transactions, including sales, loans, or asset disposals.