Provide Definitions for the Following

question 276

Essay

Provide definitions for the following:
$$\begin{array} { | l | l | } \hline \text { Item } & \text { Definition } \\\hline \text { Cost of Goods Sold } & \\\hline \text { Gross Profit } & \\\hline \text { Operating Expenses } & \\\hline\end{array}$$

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Definitions:

Self-Serving Bias

The tendency to attribute one’s successes to dispositional causes and one’s failures to situational causes.

Dispositional Attribution

Attributing a behavior to some internal cause, such as a personal trait, motive, or attitude; an internal attribution.

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later on.

Impression Formation

The psychological process by which individuals form opinions and judgments about other people based on available information.