In the context of Maslow’s hierarchy of needs, a person can consider self-actualization before addressing basic needs concerning security and safety.

Indicate whether the statement is true or false


Answer: False

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The accountant for Fazzi Corp was preparing a bank reconciliation as of April 30, 2016 . The following items were identified: Allan's book balance $46,200 Outstanding checks 1,100 Interest earned on checking account 50 Customer's NSF check returned by the bank 500 In addition, Fazzi made an error in recording a customer's check; the amount was recorded in cash receipts as $150; the bank recorded

the amount correctly as $510 . What amount will Fazzi report as its adjusted cash balance at April 30, 2016? a. $44,650 b. $45,890 c. $46,110 d. $46,250

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Heuristics can come into play when consumers forecast the likelihood of future outcomes or events. How does a consumer use an anchoring and adjustment heuristic?

What will be an ideal response?

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When certain kinds of assets are built that require public welfare and safety expenditures at the end of the asset's life,

a. these asset retirement costs are expensed when asset retirement occurs. b. a liability simultaneously arises. c. these estimated future expenditures are added to the carrying value of the asset. d. this fact is only reported in the financial statement footnotes.

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A win–win situation for the buyer and supplier, in which the buyer chooses the supplier with the lowest bid and the supplier is awarded the contract for a price higher than their quotation, is the ______.

A. English auction B. Dutch auction C. sealed-bid, first-price auction D. second-price auction

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