The ________ Bias Is a Tendency to Fixate on Initial

question 69

Multiple Choice

The ________ bias is a tendency to fixate on initial information and fail to adequately adjust for subsequent information.

• A)hindsight
• B)overconfidence
• C)anchoring
• D)availability
• E)self-serving

---

Definitions:

Pay Suppliers

The process of settling financial obligations to suppliers by providing them with the agreed-upon payment for goods or services purchased on credit.

Opportunity Costs

The price paid by not choosing the second-best option available during decision-making.

Foregone Resource

The benefits or income lost when one option is chosen over another, essentially another term for opportunity cost but often used in the context of tangible resources.

Cash Flow Estimation

The process of predicting the amount of money that will move in and out of a business in a future period.