If You Were Playing a Game of Chess, You Might

question 124

Multiple Choice

If you were playing a game of chess, you might try to analyze all of the possible moves and then pick the best one, but there are just too many, so you will probably use a strategy such as "protect the king." Such "rules of thumb" are known as:

• A) mental blocks.
• B) analogies.
• C) heuristics.
• D) algorithms.

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Short-Term Note

A debt security that matures in a short period, typically less than one year.

Credit Memo

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The cash balance of a company after adjusting for outstanding checks and deposits in transit, giving a more accurate representation of available funds.

Notes Receivable

A financial asset representing a promise to pay a specific amount of money, plus interest, to the holder of the note at a future date.