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Fred's dog was classically conditioned to salivate at the sound of a bell. Fred then repeatedly paired the bell with another stimulus, a whistle. Now whenever he blows the whistle, his dog salivates, even though the whistle has never been paired with food. This example illustrates:
Gain on Sale
The financial profit earned from selling an asset at a higher price than its purchase price or book value.
Equity Method
A method of accounting that allows an investor to recognize gains and losses through their share of an associate's profits or losses, adjusting the value of their investment accordingly.
IFRS
International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) for global use.
Entity Theory
A concept in accounting that treats a business as separate from its owners or other businesses, supporting the preparation of separate financial statements.
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