The Thought, "I Need to Study for My Psychology Exam

question 393

Multiple Choice

The thought, "I need to study for my psychology exam" enters your head. This thought is best considered as an example of

• A)a proposition
• B)a heuristic
• C)inductive reasoning
• D)a prototype

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Definitions:

Revenues

Income generated from normal business operations, often from the sale of goods and services to customers.

Expenses

Costs incurred by a business or individual in the process of earning revenue, ranging from utilities to salaries.

Drawing Account

An account used to record withdrawals made by an owner from the business for personal use.

Owner's Capital Account

An equity account that represents the owner's invested capital plus any retained earnings or minus any withdrawals.