Barbara Was Really Shocked When Her Candidate Was Not Elected

question 57

Multiple Choice

Barbara was really shocked when her candidate was not elected.She had assumed that everyone felt as she did and supported her candidate's ideas.This is an example of the

• A)false consensus effect.
• B)self-serving bias.
• C)unrealistic optimism.
• D)defensive pessimism.

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Definitions:

Journal Entries

Records of financial transactions in the order they occur, which are then posted to the appropriate accounts.

Debits

Entries in accounting that increase an asset or expense account, or decrease equity, liability, or revenue accounts.

Credits

Accounting entries that represent an increase in liabilities or revenues, or a decrease in assets or expenses.

Adjusting Entries

Adjusting entries are journal entries made in an accounting period's end to allocate income and expenditures to the period in which they actually occurred.