Question
Which of the following is NOT one of the biases in
decision making?Solution
Biases or Cognitive bias, can be defined as a set of predictable mental errors that arise from our limited ability to process information objectively. Various biases include confirmation bias (i.e. look for information that supports your existing beliefs and reject data that goes against what you believe), Attribution bias (i.e. the tendency to blame others when things go wrong, instead of looking objectively at the situation, hindsight bias (i.e. belief that one accurately predicted the outcome of a decision before it was made, even if he/she did not), commitment bias (i.e. tendency to remain committed to our past behaviors, even if they do not have desirable outcomes), etc.
As per Schedule III, Share Application Money pending allotment is shown under:
XYZ Ltd. changed the format of its Statement of Profit and Loss from ‘nature of expense’ method to ‘function of expense’ method in accordance wi...
The Division III, inserted in Schedule III of the Companies Act, 2013, prescribes the format for preparation of financial statements of which of the fo...
In preparing financial statements as per Schedule III of the Companies Act, ABC Ltd. classifies ‘Share Application Money Pending Allotment’ under cu...
Which of the following items is included in operating profit?
XYZ Ltd. classifies bank overdraft under 'Cash and Cash Equivalents' in the balance sheet. The overdraft is repayable on demand and regularly fluctuates...
As per Ind AS 16, subsequent expenditure on property, plant and equipment is capitalized when it:
Which of the following best describes capital work-in-progress (CWIP)?
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Capital Reserve can be utilized for: