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Revenue & Sales Corporation and Software Solutions,Inc.,enter into a contract for the design of custom software for which Revenue & Sales agrees to pay $4,500. Software Solutions transfers the right to payment under the contract to Creditline Company. Creditline is
Representativeness Heuristic
A cognitive shortcut in which the likelihood of an object belonging to a category is evaluated based on how similar it is to a typical object from that category.
Algorithms
Step-by-step procedures or formulas for solving problems or completing tasks, used in mathematics and computer programming.
Functional Fixedness
A cognitive bias that limits a person's ability to use an object only in the way it is traditionally used, preventing them from solving a problem in a creative manner.
Mental Set
A cognitive bias that limits a person to using an approach that has previously worked, even when a different approach might be more beneficial.
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