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ZK

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A purchase of a vehicle on credit would have what effect on the accounting equation?

A) Total Assets and total Liabilities increase.
B) Total Liabilities are overstated.
C) Total Owner's Equity is overstated.
D) Both A and B are correct.

On May 06, 2024


A
ZK

Answered

Explain some of the social decision schemes that can predict group decisions.

On May 04, 2024


Answers will vary. Group decisions can sometimes be predicted by comparing the views of the initial group members with the final group decision. These simple relationships are known as social decision schemes. One social decision scheme is the majority-wins rule, in which the group supports whatever position is taken by the majority of its members. Another scheme, the truth-wins rule, predicts that the correct decision will emerge as an increasing number of members realize its appropriateness. The two-thirds majority rule means that the decision favored by two-thirds or more of the members is supported. Finally, the first-shift rule states that members support a decision represented by the first shift in opinion shown by a member. Please see the section "The Group Decision-Making Process" for more information.