Learning
Learning is the process of acquiring new, or modifying existing knowledge. Values and beliefs. Man and animals possess the ability to learn. Learning can also be considered as a process that empowers an individual to guide their own selves
The act of abstracting something is the act of acquiring or removing something from a source. formal: an all-encompassing notion or quality as opposed to a real person, thing, or event.
<h3>What does psychology mean by abstracting?</h3>
The ability to comprehend and reason about intricate ideas that, while true, are not connected to specific events, things, people, or circumstances is known as abstract reasoning, also referred to as abstract thinking. Thinking on abstract, frequently symbolic, or speculative ideas and principles is required for this kind of reasoning.
<h3>What makes abstraction crucial?</h3>
By using abstraction, we may develop a broad understanding of the issue and its solutions. The procedure tells us to eliminate every single detail and any patterns that won't aid in our problem-solving. This aids in defining the problem for us.
Learn more about abstracting: brainly.com/question/19419456
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Answer:
The revenue should not be recognized because of the unusual and subjective terms under which the buyer has the right to return the product.
Explanation:
If a buyer of goods has the right to return a product, the transaction is considered a sale with a right of return. When regular sales are made under these terms and there is a reasonable basis for estimating returns, revenue from the sale ought to be recognized and an allowance for returnsshould be established.
However, when the rate of returns cannot be reasonably estimated, revenue is not recognized until the right of return expires. Even though the goods were shipped in 2015, until the buyer accepts the goods or the right to return them expires, revenue would not be recognized.
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Reasons are supported by evidence