A Mental Set Is Defined as The

question 17

Multiple Choice

A mental set is defined as the:

• A)tendency to view objects as functioning only in their usual or customary way.
• B)process of coming to a conclusion or making a judgment without conscious awareness of the thought processes involved.
• C)tendency to persist in solving problems with solutions that have worked in the past.
• D)sudden realization of how a problem can be solved.

Calculate operating income and understand its significance.

Determine cash flows from operating activities.

Understand the difference between net income and net cash flows from operating activities.

Recognize the types of cash flows associated with operating activities.

---

Definitions:

Discount Date

The specified date on which a discounted transaction must be completed or by which a payment must be made to avail a reduced price.

Due Date

The specified date by which a task, obligation, or payment must be completed or submitted.

Cash Discount

A deduction from the invoice price offered by the seller to the buyer for prompt payment of their bill.

Discount Date

The specified date by which payment of a bill or invoice is required to avail a discount for early payment.