Selective Abstraction

question 51

Multiple Choice

Selective abstraction

• A) is a tendency to think in extremes.
• B) is a tendency to jump to conclusions based on little or no evidence.
• C) is part of Beck's cognitive triad.
• D) is a tendency to focus on one negative detail of a situation while ignoring other aspects.

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Definitions:

Accounts Payable

The amount of money that a company owes to its suppliers or creditors for goods and services received.

Transaction Costs

Expenses incurred during the process of buying or selling goods and services, which can include fees, taxes, and other related costs.

Generally Accepted Accounting Practices (GAAP)

A collection of commonly followed accounting rules and standards for financial reporting.

Federal Regulations

Laws established by the federal government to control or govern specific activities, often enforcing standards.