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A certain contingent liability was evaluated at year-end,and considered to have a reasonable possibility of becoming an actual liability.If the accountant decided NOT to report it on the balance sheet or in the notes to the financial statement,this could be considered unethical behavior.
Storage And Retrieval
Storage and retrieval are key processes in human memory, involving the retention of information over time and its subsequent recall or access.
Conscious Encoding
Conscious encoding is the deliberate, attentive processing of information into the memory system.
Alan Baddeley
A British psychologist known for his work on the model of working memory, which describes how information is stored and manipulated in short-term memory.
Working Memory
A cognitive system responsible for temporarily holding and processing information relevant to cognitive tasks such as learning, reasoning, and comprehension.
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