Permanent Accounts

question 12

Multiple Choice

Permanent accounts:

• A)never have zero balances.
• B)have their balances zeroed-out at the end of each accounting year.
• C)do not have their year-end balance carried into the next year.
• D)Have their ending balance from one year become its beginning balance for the following year.

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Definitions:

Preoperational

A stage in Jean Piaget’s theory of cognitive development during which children from about 2 to 7 years old develop memory and imagination, but are not yet able to perform operations (logical reasoning tasks).

Sensorimotor

A developmental stage in early childhood where learning occurs through interacting with the environment using basic motor and sensory skills.

Formal Operational

Formal operational is a stage in Piaget's theory of cognitive development where individuals gain the ability to think abstractly, logically, and systematically, typically developing during adolescence.

Postoperational

A stage in Jean Piaget's theory of cognitive development where children ages 7 to 11 start to use logic and operational thinking but are not yet able to handle abstract reasoning.