The Phone Bill for an Accounting Firm Consists of Both

question 16

Multiple Choice

The phone bill for an accounting firm consists of both fixed and variable costs. Refer to the 4-month data below and apply the high-low method to answer the question. (Round your intermediate calculations to two decimal places) What is the fixed portion of the total cost?

• A)$1,850
• B)$2,225
• C)$2,425
• D)$2,625

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Definitions:

Fundamental Attribution Error

The tendency to overestimate personality or dispositional factors while underestimating situational factors when explaining others' behaviors.

Attributional Process

The cognitive process by which individuals infer the causes of their own and others' behavior.

Cognition Versus Affect

The distinction or interaction between cognitive processes (thought, knowledge) and affective responses (emotions, feelings).

Dunning-Kruger Effect

A cognitive bias where individuals with low ability at a task overestimate their ability.