When Tested with the Candle Problem Presented in Your Textbook

question 193

Multiple Choice

When tested with the candle problem presented in your textbook, five-year-old children showed no signs of functional fixedness because they _____ than the adults.

• A)could visualize the problem better
• B)could physically manipulate the objects with more dexterity
• C)had less experience with the use of the various objects
• D)had more experience with the use of the various objects

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Definitions:

Income Summary Account

The income summary account is a temporary account used during the closing process to summarize the period's revenues and expenses before transferring the net income or loss to the owner's equity account.

Capital

Resources or assets that are used by a business to generate income and wealth over time, often referred to as the net worth of the business.

Revenue

The overall income obtained through the sales of products or services, which are integral to a company's principal operations.

Depreciation Expense

The allocated amount of an asset's cost expensed over its useful life to account for its decrease in value.