Ignoring Taxes, What Is the Total Amount of Unrealized Profits

question 35

Multiple Choice

Ignoring taxes, what is the total amount of unrealized profits in inventory at the start of 2018?

• A) Nil.
• B) $5,000.
• C) $6,000.
• D)$6,200.

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Definitions:

Extinction

The process by which a conditioned response diminishes and eventually disappears, as a result of the conditioned stimulus being repeatedly presented without the unconditioned stimulus.

Stimulus Narrowing

The restriction of a response to a limited number of situations.

Blocking

A learning phenomenon where a previously learned association prevents the acquisition of a new association with the same conditioned stimulus.

Conditioned Response Recovery

The reappearance of a previously extinct conditioned response after a rest period, without the need for further conditioning.