Ruby Is a Student and Spent $150 on a Pair

question 49

Multiple Choice

Ruby is a student and spent $150 on a pair of Oakley Pro-M sunglasses for her boyfriend,Hudson.When she got home with the sunglasses,she experienced a high level of anxiety about whether she made the right purchase decision.What did Ruby experience?

• A) selective retention
• B) self-actualization involvement
• C) cognitive dissonance
• D) perceptual disharmony

---

Definitions:

Fair Value

What is expected as profit from selling an asset or what is required as payment to transfer a liability in a smooth market transaction on the established measurement date.

Costs To Sell

Expenses directly associated with the disposition of an asset, including legal, broker's, and advertising fees, which can reduce the profit realized on the sale.

External Evidence

Information obtained from independent sources outside an entity that can be used to support financial statement assertions.