Gathering information is the right answer C
Answer:
representativeness bias
Explanation:
Representativeness bias -
It is also known as representativeness heuristic .
Heuristics refers to the use of some mental shortcuts during the process of judging or decision making .
The term representativeness heuristic was first given in the year 1970 , by psychologists Daniel Kahneman and Amos Tversky .
The use of heuristic for making any judgement by the use of comparison , is referred to as representativeness heuristic .
The process involves comparison with some predefined object or situation , with the new object or scenario , makes the process of understanding much more easier .
Hence , from the given information of the question ,
The correct term is representativeness heuristic .
In economics, decisions are necessary because resources are scarce, while wants and needs are practically unlimited.
<h3>What is economic?</h3>
Economics examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, communities, and countries make when distributing funds.
There are enormous people who are living in this world and all of them have some kind of need or want them to need to fulfill and also which means that there will be limited resources that will be available to them in the near future also.
Learn more about economics, here:
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Answer:
The adjusting entry on 31st July will be;
Salaries Expense (Dr.) $480
Salaries Payable (Cr.) $480
Explanation:
Molly Mocha hires one student who works for 5 days and is paid on Monday. The student who has started working on 28th July Monday then he has worked till 1st August Friday. The adjusting entry need to be made on Thursday 31st July. The student is paid $120 per day so for 4 days of working it will be $120 * 4 days till 31st July. Since Molly Mocha pays salaries on following Monday it should record salaries expense as debit and salaries payable as credit in its accounts.
