The Most Creative Demonstration of Cognitive Dissonance Theory Involved a Situation

question 129

Multiple Choice

The most creative demonstration of cognitive dissonance theory involved a situation where participants were asked to

• A)perform extremely boring manual tasks.
• B)taste fried grasshoppers.
• C)give a learner shocks for incorrect answers.
• D)pretend they were either a prisoner or a guard.

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Definitions:

FIFO Cost Method

The FIFO (First In, First Out) cost method is an inventory valuation approach where goods first bought are the first ones sold, assuming that older inventory is used up first.

LIFO Method

An inventory valuation method that assumes the last items placed into inventory are the first ones sold during an accounting period.

FIFO

First-In, First-Out, an inventory method where the oldest items in stock are sold first.

LIFO

Last-In, First-Out, an inventory valuation method where the most recently produced or purchased items are sold first, used for cost of goods sold calculation.