An Incorrect Assumption About the Use of Intuition in Making

question 23

Multiple Choice

An incorrect assumption about the use of intuition in making decisions is that:

• A)it is seldom a positive force
• B)it is fast or leads to quick decisions
• C)it involves learned patterns of information
• D)it is an elusive concept and one with many definitions

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Definitions:

Credit

An arrangement where goods, services, or money is received in exchange for a promise to pay back a specific amount in the future.

Post Reference Notation

An alphanumeric or numeric code used in accounting to indicate a journal entry has been posted to a particular ledger account.

Journal

A chronological record of all financial transactions, used to transfer information to the general ledger in the accounting process.

Journal Entries

Records of financial transactions in the accounting system, ensuring that the debit and credit balance.