Once the Outcome of a Negotiation Was Clear,Jon,reflecting on the Different

question 32

Multiple Choice

Once the outcome of a negotiation was clear,Jon,reflecting on the different occurrences along the way,felt that he had indeed seen it coming.Which of the following terms best defines this thought process?

• A) clustering illusion
• B) hindsight bias
• C) anchoring bias
• D) confirmation bias

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Definitions:

Capital Balances

The amount of money that owners have invested in a company plus retained earnings or minus any losses.

Admission

The process or fee associated with being allowed entry into a place, organization, or institution.

Interest Allowance

An amount that reduces the gross interest income earned, related to the cost of borrowing or credit facilities.

Income Summary

An account used in the closing process during accounting that accumulates revenues and expenses to determine net income or loss.