Answer: Anchoring bias
Explanation: Anchoring bias is described as the tendency to focus on one value or idea known as the “anchor” and not adjust away from it sufficiently (the simple act of thinking of the first number strongly influences the second, even though there is no logical connection between them); It is also defined as the tendency of people to place subsequently refined answers to a given question close to the initially estimated answer, giving unduly weight to the initial answer, such as adjusting the initial estimate of 10% to 20% when 90% would have been more appropriate.
Some examples of anchors might include: real estate listing prices, initial cost estimates for development projects, salary of your last job etc.
Answer:
b. 22.38
Explanation:
The credit period to pay for merchandise is 45 days, sales for last year = $325,000, therefore sales/day (daily sales) = $325,000/365 = $890.41
Year-end receivables = $60,000
Company DSO = Year-end receivables/ daily sales = $60000/$890.41 = 67.38
The difference between the Company DSO and credit period determines if the payment is early or late. A positive answer indicates late payments, while a negative answer indicates early payments.
Therefore, Company DSO - credit period = 67.38 - 45 = 22.38
Since the difference is positive, it is a late payment
Answer:
feature
Explanation:
Easier to read, write and maintain as commands are similar to English. Allow access to module libraries. Use data types and data structures, selection statements and repetition/iteration constructs. Use logic operators and functions that are built into the language.
Answer:
6% = 4500
5% = 3500
Explanation:
wo equations can be derived from the question
x + y = $8,000 equation 1
0.05x + 0.06y = $445. equation 2
x = amount invested in 5%
y = amount invested in 6%
multiply equation 1 by 0.05
0.05x + 0.05y = 400 equation 3
subtract equation 3 from 2
0.01y = 45
y = $4500
substitute for y in equation 1
8500 - 4500 = 3500
Answer:
A debit of $6.6 million to a loss account
Explanation:
The entry to record the retirement Viper retires
Carrying value of the bonds $53.1 million
Less the market value of the bonds is $46.5 million
=$6.6 million loss
The answer is a debit of $6.6 million to a loss account because the carrying value of the bonds was $53.1 million while the market value of the bonds was $46.5 million which means we have to deduct the carrying value from the market value which gave us a loss of $6.6 million .