George Is a College Freshman

question 171

Multiple Choice

George is a college freshman.Each day on his way to class he maps out what he would need to do if there was an active shooter.He always sits by the exit in his classrooms and has an emergency number on speed dial in case of an attack.George's fear is most likely because of all the news reports of school shootings.This illustrates

• A) explicit bias.
• B) the just-world phenomenon.
• C) the availability heuristic.
• D) ingroup bias.

Distinguish between the various books of entry (journal, ledger) and their roles in the accounting cycle.

Understand the limitations of a trial balance in detecting accounting errors and the nature of accrual basis accounting.

Understand the purpose and requirements for different forms used in SEC filings.

Identify the roles and limitations of the SEC in establishing accounting principles.

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Definitions:

Quality

The standard of something as measured against other similar things; a degree of excellence.

Harmony

A state of agreement, consistency, or congruence between parts, individuals, or groups, often resulting in a more effective or pleasant outcome.

Efficiency

The ability to achieve a goal or perform a task with the minimum amount of effort, time, and waste.

Pay Raise

An increase in an employee's salary or wages, often awarded for performance, longevity, or cost of living adjustments.