The FALSE Consensus Effect Refers to the Tendency to ______

question 6

Multiple Choice

The FALSE consensus effect refers to the tendency to ______.

• A) allocate a set of attributes to someone if they match the prototype of a given category
• B) make dispositional attributions when thinking about other peoples' behaviour
• C) exaggerate how common one's own opinions are in the general population
• D) judge the frequency or probability of an event in terms of how easy it is to think of examples of that event

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Definitions:

Uncollectible

Refers to accounts receivable that are considered to be uncollectible and thus written off as a loss.

Adjusting Entry

A journal entry made prior to preparing financial statements to adjust the balances of accounts to accurately reflect the financial activity.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to update the balances of certain accounts and reflect the true financial position of a business.

Net Realizable Value

Net realizable value is the estimated selling price of goods, minus the cost of their sale or disposal.