________ refers to the manner in which consumers code, categorize, and evaluate financial outcomes of choices.
A) Cost accounting
B) Financial accounting
C) Behavioral accounting
D) Mental accounting
E) Factual accounting

Question

Quizplus · Accepted Answer

Mental accounting refers to the way in which consumers mentally categorize and evaluate their financial outcomes based on various factors such as timing, framing, and other contextual elements. This allows for more efficient decision-making and helps individuals to better understand the consequences of their financial choices. Cost accounting and financial accounting are more specific types of accounting related to businesses and organizations, while behavioral accounting and factual accounting are not relevant to this concept.

________ Refers to the Manner in Which Consumers Code, Categorize