Because an Inventory Error Causes an Offsetting Error in the Next

question 40

Multiple Choice

Because an inventory error causes an offsetting error in the next period:

• A)It affects only income statement accounts.
• B)If affects only balance sheet accounts.
• C)Managers can ignore the error.
• D)It is sometimes said to be self-correcting.
• E)Managers can ignore the error and it is sometimes said to be self-correcting.

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Definitions:

Mental Experiences

Phenomena that occur in the mind, such as thoughts, feelings, and perceptions.

Reinforcements

In psychology, the use of rewards or punishments to increase or decrease the likelihood of a specific behavior occurring again.

Behaviorism

A theory of learning based on the idea that all behaviors are acquired through conditioning, emphasizing the role of environmental factors over genetics.

Behaviorists

Psychologists who focus on observable behaviors and the ways in which learning influences behavior, excluding internal processes.