What Is Another Name for a Mental Trap

question 89

Multiple Choice

What is another name for a mental trap

• A) cherry-picking data
• B) self-justification
• C) rationalization trap
• D) cognitive dissonance

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Definitions:

IFRS

stands for International Financial Reporting Standards, which are a set of accounting standards developed by the IASB that aim to bring consistency to accounting language, practices, and statements globally.

Consolidated Statement

Financial statements that reflect the combined operations, assets, and liabilities of a parent company and its subsidiaries.

Comprehensive Income

The total change in equity for a reporting period other than transactions from owners.

Equity Method

A method of accounting where an investor recognizes its proportionate share of the associate or joint venture's income, losses, and dividends within its own financial statements.