In Lawrence Kohlberg's Preconventional Reasoning Stage,good and Bad Are Interpreted

question 117

Multiple Choice

In Lawrence Kohlberg's preconventional reasoning stage,good and bad are interpreted in terms of

• A)personal moral codes.
• B)social contract or utility.
• C)external rewards and punishments.
• D)social order,law,justice,and duty.

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Definitions:

Lower-of-Cost-or-Market-Value

An accounting principle requiring that inventory be recorded at the lower of either its historical cost or its current market value.

Book Value

The value of an asset as reported on a company's balance sheet, calculated as the cost of the asset minus any accumulated depreciation.

Impairment Model

Impairment Model is an accounting method that requires assets to be reviewed for impairment, whereby their carrying value is adjusted to reflect their recoverable amount if this is less than their current book value.

Indefinite-Lived Assets

Non-physical assets without a predefined expiry date in terms of economic benefits or usefulness.