Kaylee Is So Afraid of Spiders and Insects That She

question 50

Multiple Choice

Kaylee is so afraid of spiders and insects that she avoids most outdoor activities and even refuses to go to the basement of her own house alone. Kaylee appears to suffer from

• A) obsessive-compulsive disorder.
• B) personality disorder.
• C) generalized anxiety disorder.
• D) a phobia.

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Definitions:

Marketable Securities

Financial instruments that can be quickly converted into cash with minimal loss in value.

Unrealized Increase

The increase in value of an asset that has not yet been sold or disposed of. It represents potential profit, but it is not reflected in the financial statements until the gain is realized.

APB Opinion No. 22

Guidance issued by the Accounting Principles Board on the disclosure of accounting policies, requiring firms to include a summary of significant accounting policies in their financial statements.

Subsequent Event

An event that occurs after the balance sheet date but before the financial statements are issued, which may affect the company's financial position or performance.