In a Survey,when a Particular Word in Itself Evokes S

question 48

Multiple Choice

In a survey,when a particular word in itself evokes s strong feeling,this is called

• A)contingency.
• B)social desirability.
• C)full-filter.
• D)wording effect.

Understand the impact of breaches in sales contracts on risk of loss.

Identify the UCC rules governing the sale and identification of goods.

Differentiate between existing, future, and fungible goods under the UCC.

Explain the roles of security interests and consignment under the UCC.

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Definitions:

Normal Balance

The side (debit or credit) on which increases to the account are recorded, based on the type of account (asset, liability, equity, revenue, expense).

Financial Statement

A written report that quantitatively describes the financial health of a company, including balance sheets, income statements, and cash flow statements.

Permanent/Temporary

Classification of accounts where permanent accounts are balance sheet items carrying over to the next financial period, while temporary accounts are income statement items closed at the end of the period.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance, reflecting its nature in accounting equations.