Self-Perception Theory States That People

question 55

Multiple Choice

Self-perception theory states that people:

• A)use their own actions as a basis for inferring their internal beliefs
• B)use their internal belief systems to guide their actions and behaviors
• C)tend to take credit for their successes while denying responsibility for failures
• D)will tend to change either their attitudes or their behavior when they experience cognitive dissonance

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Definitions:

Sales

Sales represent the total revenue earned from goods or services sold by a company during a certain period.

Gross Profit Margin

A financial ratio that indicates the percentage of revenue that exceeds the cost of goods sold, highlighting the efficiency in producing and selling products.

Gross Profit Amount

The difference between sales revenue and the cost of goods sold before accounting for other expenses, indicating how efficiently a company uses labor and supplies in production.

Periodic Inventory System

A method of inventory valuation where updates to the inventory account occur at periodic intervals, rather than continuously.