Examlex
Which of the following journal entries would be recorded if a business makes a cash payment to a supplier of $750 on account (the business had purchased office supplies on account in the previous month) ?
Overconfidence
The phenomenon where an individual's subjective confidence in their judgments is reliably greater than their objective accuracy.
Representativeness Heuristic
A cognitive shortcut that involves judging the probability of an event by how closely it matches one's prototype of that event.
Confirmation Bias
A propensity for selecting, interpreting, favoring, and recollecting data that affirms one's previously held beliefs or suppositions.
Fixation
In psychology, a persistent focus of attention or obsession on an object or subject.
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