Sixteen-Year-Old Felix Is Ready to Skydive and Standing at the Open

question 94

Multiple Choice

Sixteen-year-old Felix is ready to skydive and standing at the open door of the plane with his instructor next to him. He thinks to himself, "Only dummies have problems with their parachutes, and I am no dummy, so I will skydive even though I am not sure it's safe." Felix's thoughts BEST exemplify the concept of:

• A) an imaginary audience.
• B) a personal fable.
• C) an illusion of invulnerability.
• D) learned helplessness.

---

Definitions:

Franchisor

A business entity that grants the license to a third party for the conducting of a business under the franchisor's marks.

Franchise Revenue

Income generated from the operation of a franchised business model, typically including fees and royalties paid by franchisees.

Matching Principle

An accounting principle that dictates expenses should be matched with the revenues they help generate, within the same accounting period.

Franchise Arrangements

Agreements where one party (the franchisor) grants another party (the franchisee) the right to use its trademark or brand name and operate a business under its business model.