Liabilities Can Be Calculated by

question 40

Multiple Choice

Liabilities can be calculated by

• A) adding assets to net worth.
• B) subtracting net worth from assets.
• C) adding assets to income.
• D) subtracting expenses from assets.

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Definitions:

Formal Operational Period

In Piaget’s theory, the period from about age twelve on, in which a child can think abstractly and consider hypothetical possibilities.

Abstract Reasoning Skills

These skills involve the ability to analyze information, detect patterns and relationships, and solve problems on a complex, abstract level.

Formal Operational Period

A stage of cognitive development proposed by Piaget, where individuals (around 12 years and older) start to think abstractly, reason logically, and use deductive reasoning.

Sensorimotor

Relating to or involving both sensory and motor functions or pathways.