Examlex
Differentiate between the role of an external and internal auditor.
Intuition
An unconscious process of making decisions based on imagination and possibilities.
Intuition
A process of understanding or knowing something immediately, based on a person's feelings rather than facts or evidence.
Anchoring
A cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") when making decisions.
Satisficing
A decision-making strategy that entails choosing an option that meets a minimum standard of satisfaction or acceptability, rather than pursuing the best possible outcome.
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