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Four-year-old Darlene is exploring one day when she finds a bottle of vitamins in a cupboard. They look just like the candies she got for Halloween so she eats them all. Darlene's error illustrates Piaget's process of:
Consolidated Net Assets
The total assets minus total liabilities of a company and its subsidiaries, reported as a single figure in consolidated financial statements.
Common Stock
A type of equity security that represents ownership in a corporation, with the right to share in dividends and the right to vote in company affairs.
Fair Value
Fair value is the estimated price at which an asset or liability could be bought or sold in a current transaction between willing parties, other than in a liquidation.
Equity Method
An accounting technique used to record investments in associated companies.
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