At Kohlberg's Stage 2 of Moral Development,children __________

question 42

Multiple Choice

At Kohlberg's Stage 2 of moral development,children __________.

• A) want to maintain the affection and approval of friends and relatives by being a "good person"
• B) typically mention such principles as respect for the worth and dignity of each person
• C) take societal laws into account when making moral choices
• D) view right action as flowing from self-interest and understand reciprocity as equal exchange of favors

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Definitions:

Journalized

The process of recording financial transactions in a company's journal, which is the first step in the accounting cycle.

Adjusting Entries

Ledger adjustments made at an accounting period's end to distribute income and spending according to the period they occurred.

GAAP

A body of accounting and financial reporting standards and rules widely adopted, defined as Generally Accepted Accounting Principles.

Revenue Recognition

The accounting principle that revenue should be reported at the time goods are sold or services are rendered, regardless of when the payment is received.