Jay and Justin Each Have a Stick of Gum

question 132

Multiple Choice

Jay and Justin each have a stick of gum.Eight-year-old Jay stretches his stick until it is much longer.Five-year-old Justin begins to cry because he thinks that Jay has more gum than he does.Justin lacks

• A) animism.
• B) object permanence.
• C) conservation.
• D) egocentricity.

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Definitions:

Carrying Value

The book value of assets and liabilities as presented on a company’s balance sheet, which is the original cost minus any depreciation, amortization, or impairment costs.

Secured Bonds

Bonds that have specific assets of the issuer pledged as collateral.

Collateral

An asset pledged by a borrower to secure a loan or other credit, and subject to seizure if the loan is not repaid according to the agreed terms.

Specific Assets

Assets identified and itemized separately for accounting, legal, or financial purposes.