Each of the Following Statements Violates a Concept or Convention

question 129

Essay

Each of the following statements violates a concept or convention of accounting. Write the letter in the blank next to each statement corresponding to the concept or convention violated.
a. Consistency
b. Materiality
c. Conservatism
_____ 1. A note to the financial statements indicating a change in inventory methods is omitted.
_____ 2. When management is unsure of which estimates to use in a given situation, the estimate resulting in the largest net income is always used.
_____ 3. In 2009, a company uses straight-line depreciation and in 2010 the company uses declining-balance depreciation.
_____ 4. A small company expenses all expenditures under $10,000.
_____ 5. A small company purchases a $50,000 computer to save $3,000 per year in bookkeeping wages.
d. Full disclosure
e. Cost-benefit

Recognize the importance of trust in effective communication and how it can be built or eroded in organizational contexts.

Understand the concept and applications of operant conditioning.

Differentiate between operant and respondent behaviors.

Identify the types and effects of reinforcers in learning processes.

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Definitions:

Forensic Profilers

Experts who analyze evidence from crime scenes and criminal behaviors to create profiles of suspects or understand patterns of criminal activity.

Serial Killers

Individuals who commit a series of murders over a period of time, often following a characteristic, predictable behavior pattern.

Attachment Patterns

The systematic ways in which individuals emotionally bond and connect with others in their life, often formed during early childhood and influencing relationships later in life.

Operational Definition

A clear, precise definition of a variable in terms of the processes or operations used to measure or identify it.