Balance Sheet Accounts Are Called__________ Accounts Because They Carry Their

question 125

Short Answer

Balance sheet accounts are called__________ accounts because they carry their balances to the next accounting period, and are not closed as long as the company continues to own the asset, owe the liability and have equity.

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Definitions:

Cognitive Dissonance

The psychological discomfort experienced when holding two or more conflicting cognitions (beliefs, attitudes, or values).

Peripheral Route Persuasion

A method of persuasion that relies on superficial cues or associations, rather than logical argument, to influence someone's attitude or behavior.

Dispositional Attributions

The inclination to assign the cause of a behavior or event to an individual's innate characteristics rather than to external factors.

Foot-In-The-Door Phenomenon

The tendency for people to agree to a large request after first agreeing to a small one.