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:
The correct cost of inventory that Coronado should report is $367300
Explanation:
The goods sent on consignment still belong to the consignor until they are sold off by the consignee. So, the consignor should add the unsold consignment goods in its inventory. Thus we will add the cost of goods sent on consignment to the value of inventory.
Value of inventory = 321000 + 46300 = $367300
The goods purchased by Coronado on 27 December with FOB destination should not be added to the cost of inventory as with FOB destination terms, the goods do not belong to the buyer until they are delivered to their destination by the seller.
Thus, the correct cost of inventory that Coronado should report is $367300
Answer and Explanation:
Prepared Sales Presentation.
She needs to be prepared for the sales pitch as her job involves calling customers to inform them about the sale items. Prepared Sales Presentation would the best for Elise to use.
Yes this statement is true.
Explanation:
The sale of banana will add the twice contribution in the GDP as because the price is double and the sell of every single unit in the market in comparison of apple is able to add more currency in the economy than a sell of every single unit of apple.
The higher price may affect the sale as people will move to the other alternative but how much sell of banana will take place will able to add more money in the market as compared to apple.
Answer: Intergenerational equity
Explanation: Equity simply preaches fairness whereby the allocation and sharing of resources, privilege and other related issues is devoid of partiality. Intergenerational equity looks into the idea of fairness between members of certain generations and age groups whereby the resource allocation and privilege afforded to individuals is devoid of favoritism on the basis of age group or generation. In the scenario above, Carl is of the opinion that intergenerational equity should be in play such that benefits afforded to elderly also incorporates the youth.
