Match These Definitions with the Terms They Define

question 24

Multiple Choice

Match these definitions with the terms they define.
-the tendency of people to believe that a statement is true or valid simply because it has been repeated many times

• A)diffusion of responsibility
• B)deindividuation
• C)familiarity effect
• D)group-serving bias
• E)validity effect

---

Definitions:

Partnership Income

The earnings generated by a partnership that are distributed to its partners according to their agreement.

Income Summary

An account used in the closing process that summarizes the revenues and expenses of an accounting period, to determine the net income or loss.

Ratio Based

A method or analysis that involves the comparison of two or more numbers to evaluate the performance, condition, or relationship of different financial aspects of a business.

Net Income

The net income of a business following the subtraction of all costs and taxes from its total revenue.