The Three Major Domains of the Taxonomy of Educational Objectives

question 12

Multiple Choice

The three major domains of the Taxonomy of Educational Objectives are

• A)affective, cognitive, psychomotor.
• B)attitude, knowledge, performance.
• C)knowledge, understanding, application.
• D)competency, attitudes, skills.

Analyze and reconstruct adjusting entries from trial balances to determine net income.

Understand the principles of accrual basis accounting and how it differs from cash basis accounting.

Identify and explain the four basic types of accounts that require adjusting entries.

Determine the necessity and process for updating accounts at the end of the period.

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Definitions:

Shares Outstanding

The total number of a company's shares of stock that are owned by shareholders including those held by institutional investors and restricted shares held by insiders and company officers.

Market Price

The existing rate at which one can buy or sell an asset or service in the market.

Incremental Value

The additional value created by undertaking a specific action, project, or investment, compared to not doing so.

Shares Outstanding

The total number of shares that are currently owned by shareholders, including restricted shares owned by the company's officers and insiders as well as those held by the public.