You Are Asked to "Name All the Uses You Can

question 198

Multiple Choice

You are asked to "name all the uses you can think of for a brick," writing each one on a card. If you are working by yourself you will probably come up with far more responses than if you are working as part of a group. This is most clearly an example of what psychologists call

• A) diffusion of responsibility.
• B) conformity.
• C) group polarization.
• D) social loafing.

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Definitions:

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made in the previous period.

General Journal

A comprehensive journal that records all types of accounting transactions, without limitation to specific categories.

Balance Sheet Columns

The sections in a balance sheet showing assets, liabilities, and shareholders' equity at a specific point in time.

Net Income

The amount of money left over after all expenses, taxes, and costs have been subtracted from total revenue; also referred to as net profit.