External Transactions Are Transactions the Firm Conducts with a Separate

question 61

True/False

External transactions are transactions the firm conducts with a separate economic entity,such as selling products to a customer,purchasing supplies from a vendor,paying salaries to an employee,and borrowing money from a bank.

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Definitions:

Fundamental Attribution Error

The tendency to underestimate the influence of external factors and overestimate the impact of internal factors when making judgments about the behavior of others.

Self-Serving Bias

The tendency for individuals to attribute their own successes to internal factors and put the blame for failures on external factors.

Fundamental Attribution Error

The tendency to overestimate the influence of personal characteristics and underestimate the role of situational factors in explaining others' behavior.

Self-Serving Bias

Self-serving bias is a cognitive bias that leads individuals to attribute their successes to personal qualities and their failures to external factors, protecting self-esteem.