Status-Quo Bias Is

question 60

Multiple Choice

Status-quo bias is:

• A)a type of mental barrier to saving.
• B)a reluctance to make active decisions to change something,even if it is fairly easy to do so.
• C)overcome in the SMarT program because saving is the default option.
• D)All of these statements are true.

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Definitions:

Capital

Capital refers to the financial resources that businesses use to fund their operations and grow, including equity, debt, and retained earnings.

Assets

Resources owned by a company that have economic value and are expected to provide future benefits.

Rent Expense

The cost incurred by a business for leasing a property or equipment for operational purposes.

Income Summary

An account used in the closing process that summarizes the results of all revenue and expense accounts.