In Which Approach to Decision Making Is an Individual or a Subgroup

question 11

Multiple Choice

In which approach to decision making is an individual or a subgroup assigned the role of a critic?

• A)dialectical inquiry  
• B)groupthink  
• C)devil's advocacy  
• D)Delphi technique

Assess the materiality of items based on their size and nature in financial reporting.

Describe the required disclosures for voluntary changes in accounting policies according to AASB 108/IAS 8.

Distinguish between changes in accounting estimates and errors, and understand their respective treatment in financial statements.

Classify events after the reporting period as adjusting or non-adjusting events and understand their impact on financial statements.

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Definitions:

B2C

Business-to-Consumer, referring to the process of selling products and services directly to consumers who are the end-users.

C2B

Consumer to Business, a business model where consumers (individuals) create value or products that businesses purchase, consume or use, essentially reversing the traditional business-to-consumer (B2C) model.

C2C

Consumer-to-Consumer, a business model that facilitates the transaction of products or services between customers, typically using the internet.

BBC

The British Broadcasting Corporation, a public service broadcaster providing television, radio, and online services in the United Kingdom and worldwide.