An Internal Control Strategy Requires a High Degree of Trust

question 88

True/False

An internal control strategy requires a high degree of trust.

---

Definitions:

False Consensus Effect

A cognitive bias whereby people tend to overestimate the extent to which their opinions, beliefs, preferences, values, and habits are normal and typical of those of others.

Illusion of Control

The cognitive bias that leads individuals to overestimate their ability to control events, more than what is actually possible.

Outcome Bias

The tendency to judge a decision based on its outcome rather than the quality of the decision at the time it was made.

Intercultural Misunderstandings

Occur when people from different cultural backgrounds misinterpret each other's behaviors, words, or actions due to differing norms and values.