Jason and Julia Arrive Home from School and Are Trying

question 122

Multiple Choice

Jason and Julia arrive home from school and are trying to decide whether or not they should have a cookie. Jason says "mom didn't give us permission and we might get caught." Julie responds "I think it will be OK as long as we don't make a mess, because we are still three hours from dinnertime. Jason is at the _________ stage of moral reasoning, and Julia is at the ________ stage.

• A) preconventional; preconventional
• B) conventional; conventional
• C) conventional; preconventional
• D) preconventional; conventional

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Definitions:

Adjusting Entry

Documentation produced at a period's end within accounting to properly allocate profits and outlays to the actual period they happened.

Closing Entry

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby preparing the books for the next accounting period.

Post-Closing Trial Balance

A list of all account balances after the closing entries have been made, ensuring the accuracy of the ledger.

Fees Earned

Revenue recognized by a company for services provided during a specific period, even if not yet received in cash.