A Quick, Impulsive Thought That Does Not Typically Make Use

question 185

Multiple Choice

A quick, impulsive thought that does not typically make use of formal logic or clear reasoning describes

• A) the thinking process of people who are geniuses.
• B) convergent thinking.
• C) intuition.
• D) inductive reasoning.

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Definitions:

GAAP

Generally Accepted Accounting Principles represent the customary set of rules for financial accounting that are utilized in a particular jurisdiction.

Principles-based Approach

A method of regulation that emphasizes the spirit of the laws and principles behind them, rather than rigid adherence to specific rules.

Lease Capitalization

The process of recording a lease as an asset and a corresponding liability on the lessee's balance sheet, particularly for long-term leases.