As You Slowly Inch Your Way Toward the Intersection, You

question 7

Multiple Choice

As you slowly inch your way toward the intersection, you finally see the auto accident that was stalling traffic. As you look at the two drivers standing by their crumpled cars, you think to yourself, "They probably had the accident because they're careless drivers." Your thinking reflects which of the following concepts?

• A)hindsight bias
• B)implicit cognition
• C)the self-serving bias
• D)the fundamental attribution error

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Definitions:

Double Declining-Balance Method

A method of accelerated depreciation where an asset's value is reduced at double the rate of its straight-line depreciation.

Computer System

An integrated setup of hardware, software, and network components designed to process, manage, and store data.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since its acquisition, representing the cumulative reduction in the asset's value.

GAAP

A set of widely adhered to accounting norms and guidelines for the preparation of financial statements.