You Applied for a Job at a Local Store

question 220

Multiple Choice

You applied for a job at a local store.You got an interview but were not offered a position.The next week,you see a very pretty new girl working behind the counter.You tell your friends that you didn't get the job because the manager hired the pretty girl rather than someone who was better qualified for the job.A week later,one of your friends tells you that the girl who was hired had four years of retail experience and glowing letters of reference.You still believe that her looks got her the job.What does your opinion demonstrate

• A) availability heuristic 
• B) overestimation of the improbable 
• C) belief perseverance 
• D) mental set

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Definitions:

Fair Value Accounting

An accounting approach where companies measure and report the value of certain assets and liabilities on a fair value basis.

Net New Borrowing

The difference between the new debt taken on and debt that is repaid during a given period, reflecting a company's or government’s net financing activity.

Statement of Comprehensive Income

A financial statement that shows all changes in equity during a period except those resulting from investments by and distributions to owners.

Balance Sheet

A financial statement that displays a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial position.