Quinn Is 3 Years Old

question 31

Multiple Choice

Quinn is 3 years old. He is unable to focus on two aspects of a situation at once. According to Piaget, this indicates that Quinn lacks conservation skills. What developmental stage is Quinn in?

• A) Sensorimotor
• B) Concrete operations
• C) Preoperational
• D) Formal operations

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Definitions:

Bad Debt Expense

The estimated amount of credit sales that are not expected to be collected, recognized as an expense in the income statement.

Uncollectible Accounts

Accounts receivable that a company does not expect to collect and writes off as a bad debt expense.

Outstanding Accounts Receivable

Amounts due to a company from customers for goods or services provided on credit but not yet paid.

Bad Debt Percentage

Bad debt percentage is the proportion of receivables that a company expects not to collect, used in estimating the allowance for doubtful accounts.