When a Gain Contingency Is Probable and the Amount of Gain

question 112

Multiple Choice

When a gain contingency is probable and the amount of gain can be reasonably estimated,the gain should be:

• A)Reported in the income statement and disclosed.
• B)Offset against stockholders' equity.
• C)Disclosed,but not recognized in the income statement.
• D)Reported in the income statement,but not disclosed.

Distinguish between descriptive and inferential statistics.

Realize the importance of data accuracy and the impact of errors.

Understand the distinctions among the various perspectives in psychology (e.g., psychodynamic, evolutionary, behavioral, cognitive, and social-cultural).

Recognize the practical applications of psychology through applied research.

---

Definitions:

Disruptive Technology

An innovation that significantly alters the way that industries operate, often displacing established products.

Product Line

A series of related products offered by a single company, designed to serve a particular market segment or fulfill a range of consumer needs.

Prototype

An initial or preliminary version of a product that is created to test and validate design, functionality, and feasibility before full-scale production.

Mock-Up

A scale or full-size model of a design or device, used for teaching, demonstration, design evaluation, promotion, and other purposes.