The Blaxland Ltd Filed a Lawsuit Against D-Mart Machineries for Failure

question 29

Multiple Choice

The Blaxland Ltd filed a lawsuit against D-Mart Machineries for failure to comply with the specifications of the factory equipment that they ordered and received.The solicitors for Blaxland Ltd strongly believe that the company will receive $50,000 to $100,000 if they win the case.Which action is consistent with the Framework?

• A)Blaxland Ltd.should recognise a receivable of $75,000,the expected value of the gain.
• B)Blaxland Ltd.should recognise a receivable of $50,000,a conservative estimate of the gain.
• C)Blaxland Ltd.should not recognise the receivable until it is probable that they have won the case.
• D)Blaxland Ltd.should not recognise the receivable because while the solicitor is expecting to win the case,the receivable cannot be estimated reliably.
• E)None of the given answers.

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Definitions:

Cognitive Model

A framework in psychology that explains mental processes, behaviors, and disorders through the examination of mental functions and thought processes.

Unconditioned Stimulus

An unconditioned stimulus is a stimulus that naturally and automatically triggers a response without prior learning.

Stimulus Discrimination

The ability to distinguish between different stimuli, even if they are similar, often used in the context of learning and behavior modification techniques.

Stimulus Generalization

The process by which a conditioned response is triggered by stimuli that are similar but not identical to the original conditioned stimulus.