Which of the following is incorrect with respect to mental accounting?

Group of answer choices

We fail at mental accounting when we fail to account for exceptional expenses.

All of these are correct.

The $$Winner$$s Curse$$ refers to paying too much for an acquisition.

We tend to place earned income in one mental account and unearned income in another.

People are generally adept at budgeting for ordinary expenses but tend to overestimate spending on exceptional purchases.