From a Thinking Perspective, When Faced with Making a Decision

question 36

Multiple Choice

From a thinking perspective, when faced with making a decision, the suggestion to "Go with your gut" would emphasize ________, while the suggestion "Take your time" would place emphasis on ________.

• A) System 2; System 1
• B) Type 2; Type 1
• C) System 1; Type 1
• D) Type 1; System 2

---

Definitions:

Gross Method

An accounting method for recording purchases of inventory with no immediate recognition of discounts; discounts taken are recorded as income.

Merchandise

Goods that are bought and sold in the course of business, typically in a retail or wholesale setting.

Perpetual Inventory System

This method of accounting instantly documents inventory sales or purchases through computerized point-of-sale systems along with enterprise asset management software.

Gross Method

An accounting practice for recording inventory purchases without deducing available purchase discounts, presenting the gross cost in financial statements.