The Tendency for People to Take Credit for Their Successes

question 1

Multiple Choice

The tendency for people to take credit for their successes but blame failures on other people or on outside circumstances is known as ____.

• A) the fundamental attribution error
• B) the actor-observer effect
• C) self-handicapping
• D) the self-serving bias

Understand the key financial statements and their significance.

Recognize the principal types of business activities.

Distinguish between internal and external users of accounting information.

Grasp the concept of net income and its calculation.

---

Definitions:

Equitable Redemption

is a legal principle allowing a mortgagor in default the right to redeem or reclaim their property by paying off the entire mortgage debt before a foreclosure sale.

Lender

An individual, organization, or entity that provides funds to another with the expectation of repayment plus interest.

Title

Legal term referring to the formal right of ownership of property, including the evidence or documents that prove ownership.

Short Sale

The sale of a security that the seller does not own at the time of sale, typically executed in the anticipation of a decline in the security's price.