The Tendency to Seek Out Information That Reaffirms Past Choices

question 37

Multiple Choice

The tendency to seek out information that reaffirms past choices and to discount information that contradicts past judgments is known as ________ bias.

• A) distinction
• B) omission
• C) impact
• D) confirmation
• E) anchoring

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Definitions:

Revenue Journal

A revenue journal is an accounting ledger that records sales transactions where a business earns revenue, typically used in a manual accounting system.

Segment Data

Financial information that is broken down into sub-parts of a company, such as departments or product lines, to analyze performance and make strategic decisions.

GAAP

Generally Accepted Accounting Principles, a set of rules and standards for financial accounting and reporting in the U.S.

Horizontal Analysis

A financial analysis technique that compares historical financial data over a series of periods to identify trends and growth patterns.