In 4-Year-Old Amanda's Preschool Class,the Group Discussion Involved Airplanes

question 72

Multiple Choice

In 4-year-old Amanda's preschool class,the group discussion involved airplanes.After that,Amanda considered herself an expert on airplanes and believed she knew everything there was to know about airplanes,even though she was unable to provide a reasonable explanation about why she thought she knew so much about airplanes.In this example,Amanda is demonstrating

• A)conservation.
• B)intuitive thought.
• C)egocentric thought.
• D)centration.

---

Definitions:

Contingent Liability

A potential financial obligation that may arise depending on the outcome of a future event.

Contingent Liabilities

Liabilities that may arise from past transactions if certain events occur in the future.

Interest Expense

The cost incurred by an entity for borrowed funds; interest expense is a non-operating expense shown on the income statement.

360-Day Year

A financial convention that simplifies interest calculations by assuming a year has 360 days.