Which of the following is not a cognitive bias?
A. the irrational escalation of commitment
B. the winner's circle
C. the process of anchoring and adjustment in decision making
D. the belief that the issues under negotiation are all "fixed pie"
Answer: B
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The Sarbanes-Oxley Act sought to improve audit quality by removing the auditor independence requirements
a. True b. False Indicate whether the statement is true or false
A limitation of social media in understanding consumer behavior is that we cannot determine how consumers interact with each other over time
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. The terms unit contribution and contribution margin are used interchangeably. 2. Contribution margin ratio is the ratio of contribution margin to net income. 3. Because contribution margin is based on sales price and variable costs, the contribution margin ratio can be calculated using either the total amounts or the unit amounts. 4. A contribution margin income statement classifies costs by function; that is, costs are classified as either product costs or period costs. 5. Contribution margin is the amount that contributes to covering the fixed costs and then to providing operating income.
The total annual cost is given by the sum of ordering costs and holding costs. At the lowest total annual cost, ______.
a. the total annual ordering cost is less than the total annual holding cost b. the total annual ordering cost is equal to the total annual holding cost c. the total annual ordering cost is more than the total annual holding cost d. the total annual ordering cost is twice the total annual holding cost