Professionals Believe Observation of Children Is an Integral Part of Program

question 76

True/False

Professionals believe observation of children is an integral part of program planning.

---

Definitions:

Normal Balance

The side (debit or credit) on which increases to the account are recorded, depending on the account type.

Financial Statement

Documents that provide an overview of a company's financial condition, including balance sheets, income statements, and statements of cash flows.

Permanent/Temporary

Describes assets or accounts within financial contexts; permanent assets or accounts are long-term and not expected to be converted into cash within a year, while temporary accounts track revenues, expenses, and dividends and are closed at the end of the fiscal year.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made on a periodical basis rather than transaction by transaction.