Heuristics in Decision Making

question 96

Multiple Choice

Heuristics in decision making

• A)may become a liability when they are applied inappropriately.
• B)always lead us to the correct decision.
• C)are mathematical formulas that precisely predict how people will perform on decision-making tasks.
• D)are helpful in decision-making situations,but people rarely apply them.

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Definitions:

Year

A period of time consisting of 365 days, or 366 in a leap year, used as a basic unit of time to measure durations and align calendars.

Accumulated Depreciation

Accumulated depreciation accounts for the total amount of depreciation expense that has been claimed over the life of an asset, reducing its book value.

Balance Sheet

A report that lists a business's assets, obligations, and the equity of its shareholders on a specific date.

Property, Plant, and Equipment

The tangible long-lived assets used in the operations of a business, including land, buildings, machinery, and equipment.