The Accounting Convention That Means Only Those Transactions That Are

question 63

Multiple Choice

The accounting convention that means only those transactions that are capable of being expressed in monetary terms are recorded, is the:

• A)money measurement convention.
• B)historical cost convention.
• C)conservatism convention.
• D)reliability convention.

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Definitions:

Thorndike

An American psychologist known for his work on learning theory that led to the development of operant conditioning within behaviorism.

Operant Conditioning

A method of learning that occurs through reinforcements and punishments for behavior, influencing the likelihood of that behavior being repeated.

Higher-Order Conditioning

A form of learning in which a stimulus is first made meaningful through classical conditioning. Then, another stimulus is paired with the first, causing the second stimulus to elicit the conditioned response even in the absence of the first.

Shaping

A method of positively reinforcing behaviors that are successively closer to the desired behavior.