What Is Codorcet's Paradox

question 7

Multiple Choice

What is Codorcet's paradox?

• A) An option that beats all other options in a series of pair-wise contests.
• B) A situation in which an actor has cyclical (non-transitive) preferences over alternatives.
• C) A situation in which the collective preferences of a group are not guaranteed to be rational, even though each of the actors in the group individually have rational preferences.

Understand the role of source documents in the accounting process.

Master the process of transferring journal entries to ledger accounts.

Know how to prepare and interpret financial statements from ledger accounts.

Understand the process and importance of posting journal entries to ledger accounts.

---

Definitions:

Killifish

Small, often colorfully marked fish found living in fresh or brackish waters.

Cichlids

A diverse family of freshwater fish known for their vibrant colors and complex behaviors, often found in tropical regions.

Cohort

Group of individuals born during the same interval.

Survivorship Curve

Graph showing how many members of a cohort remain alive over time.