Someone Tells You a Phone Number, and You Whisper It

question 62

Multiple Choice

Someone tells you a phone number, and you whisper it to yourself so you will remember it long enough to call the number. What are you using?

• A) long-term memory
• B) sensory memory
• C) working memory
• D) iconic memory

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Definitions:

Accounting Equation

The foundation of double-entry bookkeeping, stating that assets are equal to the sum of liabilities and owner's equity: Assets = Liabilities + Owner's Equity.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing what the owners or shareholders own outright in the company.

Liabilities

Financial obligations a company owes to outside parties.

Assets

Resources owned by a business which are expected to provide future economic benefits, such as cash, inventory, property, and equipment.