Why Do Students Need to Study Information Technology

question 161

Multiple Choice

Why do students need to study information technology?

• A) Information technology is everywhere in business.
• B) Information technology is rarely discussed in business.
• C) Information technology is rarely used in organizations.
• D) Information technology is found in only a few businesses.

Recognize the influence of actor-observer bias on perception of behaviors.

Identify examples of the self-serving bias in explanations for behavior.

Apply the concepts of consensus, consistency, and distinctiveness cues in attribution.

Describe the fundamental attribution error and its implications.

---

Definitions:

Financial Statements

Reports summarizing the financial performance, position, and cash flows of a business for a specific period, including balance sheet, income statement, and statement of cash flows.

Contra Accounts

Accounts used in accounting to reduce the value of a related account to derive its net balance; examples include accumulated depreciation.

Normal Balances

The side of an account (debit or credit) where increases to the account are recorded; assets and expenses typically have debit normal balances, while liabilities, equity, and revenue have credit normal balances.

Perpetual Inventory System

An inventory tracking system that updates item records in real-time as transactions occur, providing a constant current inventory level.