Equity Theory Is Mainly Concerned with Distributive Fairness Rather Than

question 122

True/False

Equity theory is mainly concerned with distributive fairness rather than procedural fairness.

Distinguish between various cultures based on core values.

Describe the principles that guide cultural ideologies and ethos.

Differentiate between individualist and collectivist cultures.

Know the types of norms, including enacted norms and their role in culture.

---

Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds over a period of time.

Goodwill

An intangible asset representing the excess of the purchase price over the fair market value of an acquired company’s net assets.

Cost Method

An accounting method used to record investments at their original purchase cost, with any changes recognized only when dividends are received or upon sale of the investment.

Fair Value

The amount one would get for selling an asset or the cost to transfer a liability in a regulated exchange among market players on the date of valuation.