Mary Finds a Wallet in the Library That Is Filled

question 91

Multiple Choice

Mary finds a wallet in the library that is filled with cash.She would like to keep the money but decides to turn it in to the lost-and-found office because if it were her wallet,she would like the person who found it to do the same.Mary reached her decision in accordance with:

• A) utilitarianism.
• B) the categorical imperative.
• C) Rawl's social justice theory.
• D) Kantian ethics.
• E) moral maximum.

Grasp the concept of novation and its implications for contractual obligations.

Recognize the importance of satisfaction in contracts subject to personal judgement.

Understand Freud's theory of repressed memories and their impact on behavior and personality.

Differentiate between suppression and repression in the context of forgetting.

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Definitions:

Prepaid Expense

An expense that has been paid in advance and is recognized as an asset until the service or good is consumed or used in the future.

Adjusting Entries

Entries recorded in journals at the conclusion of an accounting cycle to properly distribute revenues and expenses to the corresponding period.

Adjusting Entries

Entries made in the accounting records at the end of an accounting period to allocate revenue and expenses to the period in which they actually occurred.

Accruals

Adjusting entries for either accrued revenues or accrued expenses.