The Tendency to Imagine Alternative Scenarios and Outcomes That Might

question 118

Multiple Choice

The tendency to imagine alternative scenarios and outcomes that might have happened but did not is called

• A) the base-rate fallacy.
• B) automatic thinking.
• C) reflective bias.
• D) counterfactual thinking.

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Definitions:

NSF

An acronym standing for "Non-Sufficient Funds," indicating that a check cannot be honored due to inadequate funds in the payer's account.

Internal Control

Internal Control refers to the processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Task Responsibility

Assignment of accountability and authority to a person or team for the completion of a specific task or project component.

Segregation Of Duties

A control activity that aims to reduce the risk of errors and fraud by dividing responsibilities among different people in an organization.