Match the Terms with the Definitions

question 21

Multiple Choice

Match the terms with the definitions.
-Assets that are expected to serve the business for many years.

• A)account form of balance sheet
• B)accounting cycle
• C)classified balance sheet
• D)closing process
• E)current assets
• F)current liabilities
• G)Income Summary
• H)long-term liabilities
• I)operating cycle
• J)permanent accounts
• K)post-closing trial balance
• L)property, plant, and equipment
• M)report form of balance sheet
• N)temporary accounts

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Definitions:

Stereotyping

The process of ascribing certain traits or behaviors to individuals based solely on their membership in a particular group, without considering individual differences.

Fundamental Attribution Error

The tendency to overemphasize personality traits and underestimate situational factors when explaining another individual's behavior.

Self-fulfilling Prophecy

A belief or expectation that causes itself to become true due to positive feedback between belief and behavior.

Halo Effect

A cognitive bias where the perception of one positive characteristic of a person or thing influences the overall perception of that entity in a disproportionately positive way.