Developmentally Appropriate Practices Are MOST Likely to Be

question 10

Multiple Choice

Developmentally appropriate practices are MOST likely to be

• A)child centered.
• B)skill oriented.
• C)teacher centered.
• D)content focused.

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Definitions:

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized as earned.

Economic Reality

The concept that financial statements and actions should reflect the true economic substance of business transactions rather than just their legal form.

Realizability

The ability or likelihood of an asset to be converted into cash or an asset expected to bring cash inflows through revenue.

Accrual Accounting

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash transactions occur.