While on Her Way to Work Recently,Martha Was Pulled Over

question 138

Multiple Choice

While on her way to work recently,Martha was pulled over for the first time,for exceeding the speed limit.She was required to pay a heavy fine.Since then,she has maintained a consistent speed of 30 miles per hour while driving,whether or not there are speed limits in place.In this scenario,Martha is demonstrating _____ learning.

• A)latent
• B)avoidance
• C)observational
• D)insight

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Definitions:

Revenue Recognition

The accounting principle that deals with the specific conditions under which revenue is recognized and determines how it is measured.

AASB 15

An Australian Accounting Standard outlining the principles for recognizing revenue from contracts with customers, aiming to provide a robust framework for addressing revenue issues.

Revenue Recognition

The accounting principle that outlines the specific conditions under which revenue is recognized and dictates how it should be measured and reported in the financial statements.

Disclosures

Information provided in financial statements and notes that gives insight into the basis of preparation and specific accounting policies, significant judgments, and potential risks.