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This study investigated students’ critical reasoning about commercials, as an aspect of advertising literacy. Critical reasoning was examined under two different experimental conditions. That is, students were tasked with watching four commercials with 1) brand information provided or not and 2) asked to engage in critical reasoning or not. The commercials chosen used various production techniques (e.g., social justice marketing) to mask their economic purpose. Students watched commercials with brand information performed significantly better in critical reasoning during viewing, Analysis of Persuasive Intent (API) and brand recall. However, students asked to engage in critical reasoning during viewing recalled less brands. An explanation of these results, based on the interplay between different levels of cognitive processing of advertisements, is introduced.