When Sharing His Age with an Acquaintance, Bob Notes That

question 22

Multiple Choice

When sharing his age with an acquaintance, Bob notes that he is 70 years old, but notes that it "is a young 70," and notes that he plays tennis everyday and travels extensively. This is an example of which of the following self-deception

• A) biased view of own behavior
• B) biased view of own traits
• C) self-discrepancy
• D) subjective age

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Definitions:

Accrued Liabilities

Expenses that have been incurred but have not been paid at the end of the accounting period.

Indirect Method

A accounting technique used to prepare the cash flow statement, converting net income into net cash flow from operating activities by adjusting for non-cash items and changes in working capital.

Net Income

Total earnings of a company after all expenses and taxes have been deducted from total revenue.

Note Receivable

A financial asset representing a written promise for a debtor to pay a specified sum of money to the creditor on a demand or at a future date.