Relativism Is an Ethical Issue

question 51

True/False

Relativism is an ethical issue.

Recognize the role of purchase orders in inventory control.

Identify the characteristics and benefits of perpetual and periodic inventory systems.

Analyze the impact of inventory costing method choices on financial statements.

Understand the significance of inventory control measures and their start point.

---

Definitions:

Self-Serving Attributional Bias

The tendency to attribute one's successes to internal or personal factors while attributing failures to external or situational factors.

Projection

Assigning to others those traits that people fear they possess themselves.

Self-Handicapping

Placing obstacles in the way of one's own success to protect self-esteem from a possible future failure.

Self-Handicapping

A cognitive strategy where an individual sets up excuses or obstacles before a performance to have external factors to blame in case of failure.