The Tendency for People to Base Their Judgments on Information

question 77

Multiple Choice

The tendency for people to base their judgments on information that is easier to recall refers to the:

• A)availability bias.
• B)bandwagon effect.
• C)self-fulfilling prophecy.
• D)projection bias.
• E)environmental bias.

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Definitions:

Budgeted Data

Financial forecasts and plans for future periods, outlining expected revenues, costs, and expenses.

Profit After Tax

The net income a company remains with after all expenses, including taxes, have been subtracted from total revenue.

Sales Revenue

The income from sales of goods or services before any costs or expenses are deducted.

Tax Rate

The percentage at which an individual or corporation is taxed on their income or profit.