Examlex
The advantage of the basic earning power ratio (BEP)over the return on total assets for judging a company's operating efficiency is that the BEP does not reflect the effects of debt and taxes.
Formal Operational
The stage of cognitive development, described by Piaget, occurring from around age 12 and beyond, characterized by the ability to think abstractly, logically, and systematically.
Cognitive Development
The construction of thought processes, including remembering, problem-solving, and decision-making, from childhood through adolescence to adulthood.
Concrete Operational
A stage in Piaget's theory of cognitive development during which children gain the abilities of logical thought about concrete events, understanding conservation, and performing mathematical operations.
Abstract Thought
The ability to think about objects, principles, and ideas that are not physically present.
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