We Have a Tendency to Take Credit for Our Successes

question 84

True/False

We have a tendency to take credit for our successes and a tendency to distance ourselves from our failures. This is called the self-serving bias.

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Definitions:

Court Costs

Expenses associated with legal proceedings, including filing fees, charges for serving documents, and other legal expenses.

Principal

The original sum of money borrowed in a loan or the initial amount invested, excluding any interest or dividends.

Testamentary Trust

A legal arrangement created as per the instructions in a will, allowing assets to be managed and distributed to beneficiaries after the grantor's death.

Living Person

An individual who is currently alive, as opposed to a deceased individual or a fictitious character.