Lucia Is Paying Martha to Sell Properties That Lucia Owns

question 35

Multiple Choice

Lucia is paying Martha to sell properties that Lucia owns.Can Martha sell one of Lucia's properties to herself?

• A)Yes,as long as she sells it for fair market value.
• B)Yes,as long as Lucia did not prohibit this type of transaction.
• C)No,because an agent may not deal with himself.
• D)No,because that would make Martha a subagent of Lucia

Evaluate psychological concepts such as reactance and fundamental attribution error in explaining behavior in negotiations and conflicts.

Summarize experimental research findings on conflict, cooperation, and negotiation strategies, including specific studies like Deutsch and Krauss's "trucking game."

Discuss negotiation styles and their effects on the outcomes of conflict resolution.

Apply concepts of distributive and procedural justice, and equality and equity norms to understand reactions to resource distribution.

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Definitions:

FASB

The Financial Accounting Standards Board, responsible for establishing and improving standards of financial accounting and reporting in the U.S.

Legal Obligations

Commitments or duties that are enforced by law, requiring entities or individuals to act or refrain from acting in a certain way.

Nonlegal Obligations

Obligations that are not enforceable by law but may be morally or ethically binding.

GAAP

Generally Accepted Accounting Principles (GAAP) are a set of rules, standards, and procedures that companies must follow when compiling their financial statements in the United States.