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During the preoperational period, the thinking of children is limited by the tendency known as centration, where children fix on a single characteristic of a stimulus.
Straight-Line Depreciation
Depreciation method in which the amount taken to depreciation expense each year is constant and equal to 1/n times the depreciable amount, where n is the depreciable life of the asset.
Salvage Value
The estimated residual value of an asset at the end of its useful life.
Opportunity Cost
The receipts from the next most valuable forgone alternative when making a decision or choice among many options.
Opportunity Cost
The value of the best alternative foregone where a choice needs to be made between several mutually exclusive alternatives.
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