The Term "Magic Number Seven Plus or Minus Two" Applies

question 34

Multiple Choice

The term "magic number seven plus or minus two" applies to______.

• A)the sensory memory
• B)the short-term memory store
• C)the long-term memory store
• D)the procedural memory store

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Definitions:

Collateral

An asset that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to the agreement.

Accounts Payable

The amount a company owes to suppliers for goods and services purchased with credit.

Factor

A finance company to which businesses sell their accounts receivable—usually for a percentage of the total face value.