A Change in Accounting Principle Occurs When a Company Adopts

question 82

True/False

A change in accounting principle occurs when a company adopts a principle different from an inappropriate procedure that was used previously.

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Definitions:

Ivan Pavlov

A Russian physiologist known for his work in classical conditioning, particularly his experiments with dogs, demonstrating that behavior can be conditioned.

Classical Conditioning

Classical conditioning is a learning process that occurs when two stimuli are repeatedly paired together; an initially neutral stimulus eventually elicits a response that was initially elicited by another stimulus.

Contrived Extrinsic Rewards

Artificial incentives given to motivate behavior, such as bonuses or points, that do not naturally relate to the task being performed.

Feedback

Information provided about the outcomes of a process or activity, used to adjust or improve future performance or decision-making.