The Rationale for Life Learning Is Based on a Continuing

question 28

Multiple Choice

The rationale for life learning is based on a continuing need to develop planning strategies to:​

• A)​upgrade skills.
• B)​meet technological changes and stay abreast of the information explosion.
• C)reduce the chances of becoming obsolete.
• D)​all of the above.

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Definitions:

Modified Cash Basis

An accounting method that combines elements of both cash and accrual accounting techniques.

Warranty Expense

Costs recognized by a company in accordance with its policy to repair or replace defective products during a warranty period.

Matching Concept

The Matching Concept in accounting states that expenses should be matched with the revenues that they helped to generate, in the same reporting period.

Uninsured Risk

Risk that has not been covered by an insurance policy, leaving the individual or business exposed to potential financial loss.