Identify the Statement Below That Is Correct

question 32

Multiple Choice

Identify the statement below that is correct.

• A)When a future expense is paid in advance,the payment is normally recorded in a liability account called Prepaid Expense.
• B)Promises of future payment by the customer are called accounts receivable.
• C)Increases and decreases in cash are always recorded in the common stock account.
• D)An account called Land is commonly used to record increases and decreases in both the land and buildings owned by a business.
• E)Accrued liabilities include accounts receivable.

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Definitions:

Constant Stimuli

A method in psychophysics used to measure the sensitivity of sensory systems by presenting stimuli of constant intensity but differing in duration or frequency.

Method of Limits

A psychological research method used to measure sensitivity to stimuli by gradually increasing or decreasing the stimulus intensity until it is detectable by the participant.

Adjustment

The process of adapting or becoming accustomed to new conditions or to a new environment.

Weber's Law

A rule which asserts that the minimal discernible change in a stimulus is a constant proportion of the initial stimulus.