You Attend a Party Where You Do Not Know Anyone,but

question 7

Multiple Choice

You attend a party where you do not know anyone,but expect that people will be friendly.You behave in a warm and sociable manner.Your behavior,in turn,leads to other people being friendly to you.This situation can best be described as

• A)the illusory correlation.
• B)the representativeness heuristic.
• C)the availability heuristic.
• D)behavioral confirmation.

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Definitions:

Inventory Turnover Ratio

A measure of how efficiently a company turns its inventory into sales by comparing cost of goods sold to average inventory for a period.

Inventories

Inventories are the goods and materials a business holds for the purpose of resale or production in the ordinary course of business.

Cost of Goods Sold

The total cost directly involved in manufacturing or acquiring the products sold by a company during a particular period.

Acid Test Ratio

A liquidity ratio; those assets that are most easily converted to cash are divided by current liabilities to indicate ability to pay off short-term debt. Also called quick ratio.