Ming Is from China; Tyrone Is from Canada

question 204

Multiple Choice

Ming is from China; Tyrone is from Canada.Both participate in an experiment in which they take a test,are given feedback and told that they do very well,and then asked to make attributions for their performance. Based on cross-cultural research on the self-serving bias,you would expect that

• A)both Ming and Tyrone will say that they succeeded due to their high ability.
• B)Ming,but not Tyrone,will say that he succeeded due to his high ability.
• C)Tyrone,but not Ming,will say he succeeded due to his high ability.
• D)both Ming and Tyrone will say that they succeeded because the test was easy.

Understand how to account for unrealized gains and losses on available-for-sale securities.

Recognize the criteria for significant influence over an investee and its implications for investment reporting.

Understand the principles and ethics behind financial reporting and investment decisions.

Explain the purpose and effects of reporting Unrealized Gains/Losses in the stockholders' equity section.

---

Definitions:

De Jure

According to rightful entitlement or claim; by right of law, often distinguishing legal authority or legitimacy from de facto (or actual) power or control.

De Facto

A term used to describe practices that exist in reality, even though they are not officially recognized by laws.

Promissory Notes

Written, legally binding agreements in which one party promises to pay another a specified sum of money at a future date or on demand.

Debentures

A type of long-term debt instrument used by companies and governments to borrow money, not secured by physical assets.