Four-Year-Old Jack Is a Snack Helper

question 68

Multiple Choice

Four-year-old Jack is a snack helper. He counts five children at his table and then retrieves five milk cartons. Jack is displaying an understanding of

• A) ordinality.
• B) functionality.
• C) estimation.
• D) cardinality.

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Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledgers accounts to check that debits equal credits in the double-entry accounting system.

Debits

Debits refer to an accounting entry that results in either an increase in assets or expenses or a decrease in liabilities or equity on a company's balance sheet.

Ledger

A Ledger is a book or collection of accounts in which account transactions are recorded, classified, and summarized.

Wages Expense

The total cost incurred by a company for paying its employees, including salaries, wages, and other forms of compensation.