When People Receive More Extrinsic Motivation Than Necessary to Perform

question 158

Short Answer

When people receive more extrinsic motivation than necessary to perform a task,their intrinsic motivation declines.This is called ____________________.
overjustification effect

Understand and execute closing entries in the accounting cycle.

Understand and perform the process of journalizing reversing entries and their impact on financial statements.

Prepare comprehensive income statements from various accounting information sources.

Calculate net income or loss using disparate data from balance sheet columns and work sheets.

---

Definitions:

Closing Entries

At the close of an accounting period, records are made to move balances from interim accounts to enduring accounts.

Accounting Cycle

The sequence of steps followed in the accounting process to track and report financial transactions, from the initial transaction to the financial statements.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, typically including a balance sheet, income statement, and cash flow statement.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, serving to verify the equality of debits and credits.