__________ Allows Us to Simplify What We Attend to and Keep

question 45

Multiple Choice

__________ allows us to simplify what we attend to and keep the information we need for decision making to a manageable minimum.

• A)Cognitive overload
• B)Cognitive economy
• C)Cognitive bias
• D)Cognitive restructuring

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Definitions:

Net Income

Net income, also known as net profit, is the amount of earnings that remain after deducting all costs and expenses from total revenue.

Gross Profit

Represents the difference between a company's revenue from sales and its cost of goods sold, before deducting overhead, payroll, taxation, and interest payments.

Perpetual Inventory System

An approach in accounting where the transaction of buying or selling inventory is instantly documented through computerized point-of-sale systems and software for enterprise asset management.

Credit Memo

A document issued by a seller to a buyer, reducing the amount owed by the buyer under specified circumstances, like returns or discounts.