The Self-Serving Bias Leads Us to Take Credit for the Positive

question 58

True/False

The self-serving bias leads us to take credit for the positive and to deny responsibility for the negative.

---

Definitions:

Unit Product Cost

The total cost associated with creating one unit of product, including direct labor, direct materials, and allocated overhead.

Raw Materials Cost

The total expense incurred for materials that are used in the manufacturing process to produce goods.

Direct Labor Wage Rate

The amount of money paid to workers for each hour of labor.

Raw Materials Inventory

Stocks of unprocessed materials that are used in the manufacturing process to create finished goods.