Using the T-Account Approach

question 75

Multiple Choice

Using the T-account approach:

• A)Net income appears on the debit side of the Cash account under operating activities.
• B)Payment of long-term debt appears on the debit side of the Cash account under financing activities.
• C)Purchase of equipment appears on the credit side of the Cash account under operating activities.
• D)An increase in Accounts Receivable appears on the debit side of the Cash account under operating activities.

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Definitions:

Egocentrism

The inability to differentiate between self and others, often leading to a perspective that is overly centered on one's own views and experiences, without adequately considering those of others.

Preoperational

A stage in Piaget's theory of cognitive development where children from about 2 to 7 years old are able to engage in symbolic play but not yet capable of logical thought.

Sensorimotor Stage

The first stage in Piaget's theory of cognitive development, during which infants learn about the world primarily through their senses and motor activities.

Piaget

Jean Piaget was a Swiss psychologist known for his theory of cognitive development that describes how children construct a mental model of the world.