Accounting Terminology
Listed Below Are Nine Technical Accounting Terms Emphasized

question 31

Essay

Accounting terminology
Listed below are nine technical accounting terms emphasized in this chapter:
$$\begin{array} { | l | l | l | } \hline \text { Adjusting entries } & \text { Unearned revenue } & \text { Accrued expense } \\\hline \text { Accumulated depreciation } & \text { Accrued revenue } & \text { Prepaid expense } \\\hline \text { Materiality } & \text { Contra-asset } & \text { Book value } \\\hline\end{array}$$
Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.
____ (a.) An account with a credit balance that is an offset against an asset account.
____ (b.) A contra-account.
____ (c.) A liability to customers who have paid in advance.
____ (d.) The estimated current value of an asset.
____ (e.) Entries made to achieve the goals of accrual accounting when revenue or expense transactions span more than one accounting period.
____ (f.) An asset that will expire shortly.
____ (g.) Revenue that has been earned, but not yet received.

Differentiate between variables, hypotheses, theories, and operational definitions in the context of psychological research.

Understand the importance and process of operational definitions in ensuring clarity and preciseness in research.

Recognize the significance of reporting findings and the common methods of dissemination in scientific research.

Acknowledge the limitations of common sense in explaining behaviors and the value of scientific investigation.

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Definitions:

Telegraphic Speech

A stage in language development where young children use simple, concise sentences that typically include only essential words and omit smaller, less critical ones, resembling telegraphic messages.

Language Development

The process by which individuals acquire the capacity to perceive, produce, and use words to understand and communicate.

One-word Stage

A developmental stage in early childhood where children primarily use single words to communicate needs, desires, or observations.

Universal Grammar

A theory in linguistics proposing that the ability to acquire language is innate to humans and that all languages share a common underlying structure.