Reference no: EM133124980
Question - The Furn Store sells home furnishings, including bean bag chairs. Furn currently uses the periodic FIFO method of inventory costing, but is considering implementing a perpetual system. It will cost a good deal of money to start and maintain, so Furn would like to see the difference, if any, between the two and is using its bean bag chair inventory to do so. Each bean bag chair sells for $40. Here is the first quarter information for bean bag chairs:
In the Food Industry Case, the executives fell for a number of cognitive bias traps in their decision making process. Which of the following best describes an argument the executives made to support their decision and the cognitive bias that is tied to it?
a. The food industry's current product formulations are profitable, and the companies are beholden to their shareholders. This is an example of incrementalization.
b. There is no real evidence that the food industry's products are the cause of the obesity problem. This is an example of overconfidence bias.
c. The food companies already provide plenty of products that offer healthy options - they are not to blame if consumers make poor food choices. This is an example of rationalization.
d. The food company's products are fine in moderation - it's up to consumers to avoid eating too much. This is an example of confirmation bias.
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Describes an argument the executives made
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Unrestrained capitalists are really economic imperialists
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