Sixty-Five-Year-Old Bernice Is Taking Courses at the University with the Intention

question 214

Multiple Choice

Sixty-five-year-old Bernice is taking courses at the university with the intention of completing a bachelor's degree.Some members of her family think she is not likely to succeed because she is much too old to learn new information.This family's thinking about Bernice illustrates

• A) hindsight bias.
• B) prejudice.
• C) discrimination.
• D) stereotyping.

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Definitions:

Revaluation Method

An accounting technique that involves adjusting the book value of an asset to reflect its current fair market value.

Intangible

Assets that lack physical substance but have value due to their intellectual property or other non-physical qualities, such as patents, trademarks, and goodwill.

Amortisation

The systematic allocation of the depreciable amount of an intangible asset over its useful life.

Impairment

A reduction in the recoverable value of an asset below its carrying amount on the balance sheet, leading to a write-down of its value.