Information Lost from Short-Term Memory Is Temporarily Forgotten,but Information in Long-Term

question 37

True/False

Information lost from short-term memory is temporarily forgotten,but information in long-term storage is often forgotten permanently.

---

Definitions:

Expense Accounts

Accounts in the general ledger that are used to record various costs and expenses incurred by a business.

Revenue Accounts

Accounts that track the income a business receives from its various activities, such as sales of products or services.

Loss Accounts

Accounts used to record the loss in value of assets or to represent expenses that reduce net income.

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized or accounted for.