The Mental Frameworks We Hold About Traits and Behaviors Associated

question 372

Multiple Choice

The mental frameworks we hold about traits and behaviors associated with different types of people are called:

• A) social norms.
• B) explicit cognition.
• C) schemas.
• D) self-serving biases.

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Definitions:

Natural Business Year

A fiscal year that ends when business activities have reached the lowest point in an annual operating cycle.

Formal Accounting Records

Official documents and books that systematically record financial transactions and positions of a business.

Work Sheet

An internal document used by accountants to prepare financial statements, gather information, and perform adjustments before the closing of accounts.

Reversing Entries

Journal entries made the first day of the period that are the exact opposite of the related adjusting entries of the prior period.