Most Theories Agree That

question 97

Multiple Choice

Most theories agree that

• A) a child's morality is regulated by inner standards from birth.
• B) truly moral individuals do the right thing to conform to others' expectations.
• C) at first, a child's morality is externally controlled by adults.
• D) conscience does not begin to take shape until age 7.

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Definitions:

Present Obligation

A duty or responsibility that exists at the reporting date, typically requiring an outflow of resources.

Contingent Liability

A potential financial obligation that may occur in the future depending on the outcome of a specific event, not confirmed to exist or be measurable until one or more conditions are fulfilled.

Liability

A financial obligation or debt owed by an individual or company.

Accrual

The accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.