________ Is the Tendency to Underestimate the Influence of External

question 129

Multiple Choice

________ is the tendency to underestimate the influence of external factors and overestimate the influence of internal factors.

• A)Self-serving bias
• B)Attribution theory
• C)Fundamental attribution error
• D)Selective behaviour theory

Appreciate the objectives of a system of internal control, including the safeguarding of assets.

Understand the importance of maintaining multiple bank accounts for efficiency and better control over cash.

Grasp why systems of internal control are necessary for companies of all sizes.

Recognize the importance of employee vacations as a strength in the system of internal controls for promoting operational efficiency.

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Definitions:

Rental Housing

Dwelling units leased or rented to tenants under a contract or agreement, providing a place to live in exchange for payment.

Price Ceiling

A legal maximum price at which a good can be sold, often set by government to control prices.

Housing Shortage

A situation where the supply of available houses is not sufficient to meet the demand for them in a particular area.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, achieving market equilibrium.