Cognitive Consistency Refers to

question 99

Multiple Choice

Cognitive consistency refers to

• A) discounting ideas and information that contradict existing views.
• B) making decisions the same way they were made in the past.
• C) assuming that things will work out for the best.
• D) believing that current events are comparable to past events.

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Definitions:

General Journal

A basic accounting ledger that records all transactions of a business in chronological order, providing a detailed account.

Ethical Standards

Principled guidelines that govern the conduct of individuals and organizations, ensuring actions are morally right and fair.

General Journal

The bookkeeping record in which all types of transactions are recorded in chronological order before they are transferred to specific accounts in the ledger.

General Ledger

The comprehensive set of accounts that records all financial transactions of a business, serving as the central repository of accounting data.