Explain the Difference Between an Internal and External Locus of Control

question 144

Essay

Explain the difference between an internal and external locus of control.

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Definitions:

Common Stockholders

Individuals or entities that own shares of common stock in a corporation, granting them rights to dividends and votes on company matters.

Dividend

A portion of a company's earnings distributed to shareholders, usually in the form of cash or additional shares.

Sole Proprietorship

A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.

Drawing Account

An account used by sole proprietors or partners to record the money withdrawn from the business for personal use.