Given the Following Two T-Accounts,what Can Definitely Be Said About

question 63

Multiple Choice

Given the following two T-accounts,what can definitely be said about this company's transactions?
$\begin{array}{ccc}\text { Cash } & \text { Acc. Receivable } \\\text { (1) } 17,700 \mid700(2) & \text { (3) } 1,400\mid 1,900(4) \\\text { (3) } 400\mid700(5) & \mid\\(4) 1,900\mid&\mid\end{array}$

• A)Transaction 1 indicates the company sold merchandise for $17,700.
• B)Transaction 2 indicates the company bought merchandise for $700.
• C)Transaction 3 indicates the company returned merchandise for $1,000.
• D)Transaction 4 indicates the company received $1,900 from its credit customers.
• E)Transaction 5 indicates the company paid $700 in salaries.

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Definitions:

Stereotyping

A cognitive process where individuals assign identical attributes to all members of a group, regardless of the actual variation among the members.

Social Loafing

A phenomenon in group settings where individuals reduce their effort because they believe other members of the group will compensate.

Cognitive Dissonance

A psychological discomfort experienced when holding two or more conflicting cognitions (beliefs, attitudes, or values).

Making Attributions

The process of explaining one's own behavior and the behavior of others by assigning causes to these behaviors.