According to the Typicality Effect

question 22

Multiple Choice

According to the typicality effect

• A) objects in a category have a family resemblance to one another.
• B) objects that are not typical stand out and so are more easily remembered.
• C) items that are high in prototypicality are judged more rapidly as being in a group.
• D) we remember typical objects better than nontypical objects.

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Definitions:

Outstanding Checks

Checks that have been issued and recorded in an entity's accounting system but have not yet been cashed or cleared by the bank.

Bank Statement Adjustment

The process of modifying the balance shown in a bank statement to match the adjusted balance in the ledger accounts, usually due to timing differences in recording transactions.

Company Books Adjustment

The process of making changes to the financial records to correct errors or update accounting information.

Deposit In Transit

A banking term that refers to checks or other forms of payment that have been received and recorded by a company, but not yet processed or credited by the bank.