Raj Is 12 Years Old

question 158

Multiple Choice

Raj is 12 years old.He recently developed a theory on his own about the irregular weather patterns in New York.He uses statistical analysis and certain scientific principles to predict the course of weather in New York.In the context of Piaget's theory of cognitive development,Raj is most likely in the _____ stage of development.

• A)formal operational
• B)preconventional
• C)conventional
• D)sensorimotor

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Definitions:

Perpetual Inventory System

An accounting method that records inventory transactions in real-time, continuously updating inventory and cost of goods sold.

FOB Shipping Point

A term indicating that the buyer assumes responsibility for the goods and the cost of transportation at the point of departure from the seller's shipping point.

Shipping Costs

These are expenses incurred in transporting goods from one location to another, typically covered by the seller or the buyer, depending on the shipping terms.

GAAP

Generally Accepted Accounting Principles (GAAP) are a collection of commonly followed accounting rules and standards for financial reporting.