What Are Liabilities

question 233

Multiple Choice

What are liabilities?

• A)anything of value owned by a person or a business
• B)anything a person or a business owes to entities outside the business
• C)the total cost of labor for a firm
• D)only those unpaid expenses for which a business or person is making interest payments

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Definitions:

Confirmation Bias

The tendency to interpret new evidence as confirmation of one's existing beliefs or theories.

Multitasking

The performance of multiple tasks simultaneously by an individual or machine.

Framing Effect

The influence on decision making caused by the way information is presented, rather than by the information itself.

Confirmation Bias

The inclination to seek out, understand, prioritize, and remember data in a manner that supports one's already established views or theories.