Your Uncle Decided That It Is Finally Time to Quit

question 428

Multiple Choice

Your uncle decided that it is finally time to quit smoking. Last week he quit smoking and he is hoping that he can continue to stay tobacco-free. He is in the ____________ stage of the transtheoretical model.

• A)preparation
• B)contemplation
• C)action
• D)maintenance

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Definitions:

Accounting Equation

A fundamental financial principle represented as Assets = Liabilities + Owners' Equity, showing the relationship between a company's resources and its sources of financing.

Transactions

Financial activities or events that affect the financial position of a business, such as buying, selling, or transferring assets.

Sole Stockholder

An individual or entity that owns 100% of the outstanding shares of a corporation.

Income Statement

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.