We Tend to Notice Things That We Expect to See

question 47

Multiple Choice

We tend to notice things that we expect to see and to disregard things that we aren't expecting. This tendency is called

• A) a generalization fallacy.
• B) a perceptual bias.
• C) niche picking.
• D) sample bias.

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Definitions:

Adjusting Entry

A journal entry made at the end of the accounting period to allocate income and expenditure to the correct period.

Accounting Period

denotes the specific period of time covered by financial statements, typically a year or a quarter.

Liability Insurance

Insurance that provides protection against claims resulting from injuries and damage to people and/or property.

Prepaid Insurance

An asset account representing insurance payments made in advance for future coverage periods.