Research Suggests That the Simple Exercise of Imagining What Could

question 2

Short Answer

Research suggests that the simple exercise of imagining what could go wrong with a given decision can increase your ability to correctly identify reasons for future successes or failures by ___________.

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Definitions:

Income Summary

An account used during the closing process that summarizes the revenues and expenses of an accounting period to calculate the net income or loss.

Temporary Account

A temporary account is an account that is closed at the end of each accounting period, with its balance transferred to a permanent account.

Real Accounts

Accounts related to assets, liabilities, and equity that are not closed at the end of the accounting period.

Nominal Accounts

Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts, which are used to calculate the period's net income or loss.