Many People Receive Unsolicited Calls from Telemarketers or Unwanted "Junk

question 51

Multiple Choice

Many people receive unsolicited calls from telemarketers or unwanted "junk" mailers advertising offers for products such as cable or Internet services or cellular phone companies. Most people do not consider these offers and do not make a change to the plans or services that they receive because they do not want to make a decision that requires serious consideration or thought. This is an example of the _________________ bias.

• A) actor-observer
• B) dual systems
• C) self-serving
• D) status quo

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Definitions:

International Financial Reporting Standards

A set of global accounting standards developed by the International Accounting Standards Board, aiming to bring transparency, accountability, and efficiency to financial markets around the world.

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, but not control those policies, typically evidenced by ownership of 20% to 50% of the voting stock.

Fair Value

An accurate valuation of an asset or liability derived from current market conditions and agreed upon by knowledgeable, willing parties in an arm's length transaction.

Fair Value Through Profit or Loss

An accounting method where changes in fair value of investments are recorded in the profit or loss for the period.