The ___________ Bias Is a Tendency to Fixate on Initial

question 54

Multiple Choice

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

• A)overconfidence
• B)anchoring
• C)availability
• D)confirmation

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Definitions:

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income or loss.

Balance Sheet

A document detailing a firm's assets, liabilities, and owners' equity at a particular moment, offering an overview of its financial health.