Joey Needs to Use His Fingers to Add and Subtract

question 111

Multiple Choice

Joey needs to use his fingers to add and subtract.Joey can sort blocks based on both their shape and color at the same time.Based on this information,you know that Joey is most likely in the ________ stage of development.

• A) formal operational
• B) sensorimotor
• C) concrete operational
• D) preoperational

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Definitions:

Total Assets

The sum of all assets, both current and non-current, owned by a company, representing the total resources it has at its disposal.

Aging of Accounts Receivable Method

An accounting technique used to estimate the amount of receivables that are unlikely to be collected, based on the length of time they have been outstanding.

Percentage of Sales Method

A forecasting technique used to predict various financial figures, such as expenses or inventory levels, as a fixed percentage of sales.

Allowance for Doubtful Accounts

A contra asset account representing the amount of accounts receivable a company does not expect to collect.