Use the Information Below to Answer the Following Questions

question 24

Multiple Choice

Use the information below to answer the following questions:
Unstable Ltd has decided to change its depreciation method from straight-line to reducing balance, with the agreement of its auditors and taxation authorities. As a result, its annual depreciation expense increases by $200,000. The company’s income tax rate is 40%.
-Which of the following could NOT explain a substantial increase in the current ratio?

• A) slow collection of debtors
• B) sale of a major noncurrent asset near year-end
• C) a large prepayment near year-end
• D) a change from LIFO to FIFO.

Understand the principles and processes underlying cognitive restructuring.

Describe the steps involved in cognitive restructuring techniques.

Recognize the importance of self-awareness and self-monitoring in cognitive restructuring.

Discuss the methods of increasing self-efficacy and their applications in practice.

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Definitions:

Good

A material item that can be touched, used, or consumed, which is produced to fulfill wants or needs.

Service

A type of economic activity that is intangible, is not stored, and does not result in ownership; services are produced and consumed at the same time.

Exchange

The act of giving one thing and receiving another in return, often referring to the trade of goods, services, or financial instruments.

Functions Of Money

The core roles money plays in an economy, including serving as a medium of exchange, a unit of account, a store of value, and sometimes, a standard of deferred payment.