At the End of 2015,the Payroll Supervisor for Claro,Inc

question 205

Multiple Choice

At the end of 2015,the payroll supervisor for Claro,Inc.failed to accrue $24,790 in commissions for the outside salespersons.The cost was recorded in 2016 when the commissions were paid and Commissions Expenses was debited and Cash credited for the full amount.The error was not discovered until late in 2016 while reconciling year-end expenses for 2016.What is the proper treatment to correct the error? (Ignore income taxes.)

• A)Do nothing,the error has counterbalanced.
• B)Accrue $24,790 in commission expense for 2016.
• C)Debit 2016 beginning retained earnings and credit commission expense for $24,790.
• D)There is no error in either year because the commissions are recorded when paid.

Explain Erik Erikson's stages of psychosocial development in the context of aging.

Discuss the impact of life events and transitions on marital satisfaction and psychosocial well-being.

Critique and understand limitations of theories related to aging, death, and coping mechanisms.

Understand the exchange rate and its application in converting currencies.

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Definitions:

Positive Reinforcer

A stimulus that, when presented after a behavior, increases the likelihood of that behavior happening again.

Negative Reinforcer

A stimulus whose removal following a behavior increases the likelihood of that behavior being repeated in the future.

Secondary Reinforcer

A stimulus that gains its reinforcing power through its association with a primary reinforcer; not naturally rewarding.

Negative Reinforcement

A psychological principle where the removal of an adverse stimulus strengthens a behavior.