Several Theorists Argue for a Fifth Stage of Cognitive Development

question 215

Multiple Choice

Several theorists argue for a fifth stage of cognitive development called post-formal thought, which is characterized by:

• A) more complex formal operational thought
• B) a decrease in the constraints of formal operational thought
• C) similar types of thought as the formal operational stage
• D) logical reasoning about opposing points of view

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Definitions:

Partnership Capital

Partnership capital represents the total equity invested by all partners in a partnership firm, reflecting their pooled capital contributions to the business.

Bonus

When a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest.

Fair Market Value

The value at which an asset would be sold in a competitive bidding environment.

Capital Account

A financial statement that shows the changes in ownership interest of a country or an organization.