Examples of One-Time Items Include

question 165

Multiple Choice

Examples of one-time items include

• A)nonoperating items.
• B)uncollectible accounts receivable.
• C)warranty claims.
• D)environmental cleanup costs.

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Definitions:

Confirmation Bias

The inclination to seek out, understand, prefer, and remember information in a manner that validates one's existing beliefs or theories.

Cognitive Error

Faulty thinking patterns that lead to misinterpretation of experiences or interactions.

Illusory Correlation

The cognitive mistake of perceiving a relationship between two variables even when none exists.

Confirmation Bias

The tendency to search for, interpret, and remember information in a way that confirms one’s preconceptions or hypotheses.