The Tendency to Overestimate the Contribution of Internal Factors Is

question 18

Multiple Choice

The tendency to overestimate the contribution of internal factors is part of which perceptual bias?

• A) Projection
• B) Self-serving bias
• C) The halo effect
• D) Figure ground
• E) Selective perception

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Definitions:

Debit Memorandum

A document issued by a buyer to a seller notifying of a debit made in the seller's account, often used in adjustments for returned goods or discrepancies.

Note Receivable

A written promise that one party will pay another a specific sum of money at a certain time or on demand.

Bank Collection

The process by which a bank processes items for payment, like checks or promissory notes, on behalf of its clients.

Adjusting Journal Entries

Entries made in accounting records to update balances at the end of an accounting period before financial statements are prepared.