Each Day, Burton Takes Time to Think About His Progress

question 11

Multiple Choice

Each day, Burton takes time to think about his progress at teaching, and attempts to understand what he is doing right and doing wrong and why. He knows this will contribute to the development of his expertise. Burton is using the technique of:

• A) expert thinking
• B) reflective thinking
• C)effective daydreaming
• D) practical thinking

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to record any unrecognized income or expenses for that period.

Sales Tax

Sales tax is a government levy imposed on the sale of goods and services, collected by the seller from the buyer at the point of sale.

Cash Sales

Transactions in which payment is received at the time of sale, typically in cash or equivalent.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to make financial statements comparable across international boundaries.