Donald, Once Poor, Inherited $5 Million and Decided to Donate

question 194

Multiple Choice

Donald, once poor, inherited $5 million and decided to donate $1,000 to a local charity. Donald believes he took this step because he is a kind and generous man. Donald might be demonstrating _____.

• A) the fundamental attribution error
• B) hindsight bias
• C) self-serving bias
• D) concepts of cognitive dissonance

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Definitions:

Cost of Goods Sold

This refers to the direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the good.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are integral to its production.

Machine Lubrication

The process of applying lubricants to machinery to reduce friction, prevent wear, and extend the life of the equipment.

Tires

Tires are rubber-based, circular components that fit around wheels to provide vehicles with traction, support, and a smooth ride over various surfaces.