Examlex
The gain or loss on an asset purchased on March 31,2013,and sold on March 31,2014,is classified as short-term.
Reason
The mental capacity to form judgments or conclusions based on logic and knowledge.
Combination-of-liquids task
A cognitive task used to assess a child's understanding of conservation; involves mixing liquids to see if a child understands that volume remains constant despite changes in appearance.
Late adolescence
A developmental stage roughly ranging from ages 15 to 19, characterized by continued physical, emotional, and cognitive maturation.
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