Identify at Least One Estimate That Would Be Required in Measuring

question 39

Essay

Identify at least one estimate that would be required in measuring the following financial statement items.
$$\begin{array} {| l|l| } \hline\text { Work in process inventories }& \\\hline \text { Intangible assets }& \\\hline \text { Building } &\\\hline \text { Vacation pay } &\\\hline \text { Revenue from a 5-year }& \\\text { construction contract }& \\\hline\end{array}$$

---

Definitions:

Avoidance Conditioning

A type of learning in which an individual learns a behavior to avoid an unpleasant stimulus.

Negative Reinforcement

A behavioral concept in which the removal of an unfavorable outcome or stimulus increases the likelihood of a response occurring again in the future.

Positive Reinforcement

A strategy in behavior modification that involves the addition of a rewarding stimulus following a desired behavior.

Negative Punishment

A behavior modification technique where a desirable stimulus is removed after a behavior, with the aim of decreasing that behavior.