Which of the Following Describes the Process for Making Decisions

question 46

Multiple Choice

Which of the following describes the process for making decisions with little apparent effort and typically without conscious awareness?

• A) rational decision-making
• B) System 2 Thinking
• C) prospect theory
• D) intuition

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Definitions:

Adjusting Entry

Journal entries made in an accounting period's end to allocate revenues and expenses to the period in which they actually occurred.

Rent Receivable

An account in the balance sheet that represents the amount of rental payments owed to a property owner but not yet received.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.

Interest Payable

A liability account on a company's balance sheet representing the amount of interest expense that has been incurred but not yet paid.