Match the Letter of Each Principle or Assumption or Qualitative

question 61

Multiple Choice

Match the letter of each principle or assumption or qualitative characteristic with the appropriate statement.
-A reasonable summarization of financial information is required.

• A)Business entity
• B)Going concern
• C)Time period
• D)Monetary unit
• E)Historical cost
• F)Conservatism
• G)Realization
• H)Consistency
• I)Full disclosure
• J)Verifiability
• K)Materiality
• L)Industry practices

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Definitions:

Spontaneous Recovery

The reappearance, after a pause, of an extinguished conditioned response in classical conditioning.

Extinction

In behavioral psychology, the process by which a conditioned response decreases in frequency and eventually disappears when the conditioned stimulus is no longer paired with the unconditioned stimulus.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired: a response which is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.

CS

Short for Conditioned Stimulus, it is a previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.