In a Test of Conservation of Quantity, Piaget Found That

question 17

Multiple Choice

In a test of conservation of quantity, Piaget found that children aged 6 years and below tend to say that:

• A)Height cancels out width
• B)The two glasses contain the same quantity
• C)They are not thirsty
• D)The short wide glass contains more than the tall thin glass
• E)The tall thin glass contains more than the short wide glass

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Definitions:

Beginning Inventories

The value of all the inventory items that a company has in stock at the start of an accounting period.

Ending Inventories

The worth of merchandise ready for purchase at the closure of a financial period, determined by adding the initial stock and acquisitions, then subtracting the cost of goods sold.

Net Income

The total profit of a company after all expenses, including taxes and costs, have been subtracted from total revenue.

Merchandise Inventory Account

An account in the general ledger that tracks the cost of goods intended for sale during an accounting period.