The Human Tendency to Choose Information to Examine and Support

question 42

Multiple Choice

The human tendency to choose information to examine and support a view they already hold and ignore data that might refute their hypothesis is known as a ________.

• A) confirmation bias
• B) optimism bias
• C) congruence bias
• D) distinction bias

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Definitions:

Amortized

The process of gradually reducing the cost or value of an asset, or the repayment of a debt over a period of time, through regular payments.

Patents

Patents are government grants that give inventors exclusive rights to their inventions, preventing others from making, using, or selling the invention for a certain period.

Capital Expenditure

Resources utilized by a business to purchase, improve, and upkeep tangible assets like real estate, factories, or machinery.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company’s balance sheet.