Effective Teams Have Confidence in Themselves and Believe They Can

question 31

Multiple Choice

Effective teams have confidence in themselves and believe they can succeed. This confidence is called ________.

• A) social facilitation
• B) goal congruence
• C) social loafing
• D) team efficacy
• E) self-serving bias

Recognize the different types of data collection methods, such as time series and cross-sectional.

Understand the scales of measurement used in statistics.

Distinguish between descriptive and inferential statistics.

Realize the importance of data accuracy and the impact of errors.

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Definitions:

Owner's Investments

Funds or assets contributed by the owner(s) to the business to increase its capital.

Expenses

Costs incurred by a business in the process of earning revenue, such as rent, salaries, and utility bills.

Withdrawals

Amounts of money taken out from a bank account, investment fund, or retirement plan, often referring to the owner's use of funds for personal use.

Total Liabilities

The sum of all monetary obligations a company owes to external parties, such as loans, accounts payable, and mortgages.