The Assets of a Business Total $20,000; the Liabilities, $8,000

question 202

Multiple Choice

The assets of a business total $20,000; the liabilities, $8,000. The claims of the owners are

• A) $0
• B) $8,000
• C) $12,000
• D) $20,000
• E) $28,000

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Definitions:

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort from holding two or more conflicting beliefs, ideas, or values.

External Locus Of Control

This occurs in people who feel they have no control over the events in their lives.

Content Conflict

Disagreement or dispute that arises over specific issues, facts, or matters at hand in a discussion or negotiation.

Instrumental Values

Values that act as a means to an end, guiding how we achieve our goals and interact with others; they include traits like honesty, self-discipline, and independence.