Forming Concepts Is an Important Aspect of Constructing Information

question 72

Multiple Choice

Forming concepts is an important aspect of constructing information.How is this done?

• A) Thinking occurs but it is not related to cognition.
• B) Cognition occurs but it is not related to thinking.
• C) Categories are used to group objects,events,and characteristics on the basis of common properties.
• D) Thinking occurs unrelated to cognition and categories are used to group objects,events,and characteristics on the basis of common properties.

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Definitions:

Ending Total Assets

The total value of a company's assets (such as cash, inventory, property, and investments) at the end of an accounting period.

Profit Margin

A financial metric expressed as a percentage that measures the amount of net income earned with each dollar of sales by comparing net income and net sales.

Net Income

The net income that a company earns, calculated by deducting all expenses and taxes from the total revenue.

Net Sales

The total revenue from sales transactions after deducting returns, allowances for damaged or missing goods, and discounts.