Knowledge of the Characteristics of SIN Numbers Can Be Useful

question 28

True/False

Knowledge of the characteristics of SIN numbers can be useful to auditors when checking personnel files and the validity of people on the payroll.

---

Definitions:

Behavioral Economics

A field of economics that examines how psychological, social, cognitive, and emotional factors influence the economic decisions of individuals and institutions, and how those decisions vary from those implied by classical theory.

Loss Aversion

In prospect theory, the property of most people’s preferences that the pain generated by losses feels substantially more intense than the pleasure generated by gains.

Behavioral Economics

A field of economics that studies how psychological, cognitive, emotional, cultural, and social factors affect economic decisions of individuals and institutions.

Loss Aversion

A cognitive bias where individuals fear losses more than they value equivalent gains.