It’s possible to make a rough estimate of how often planetary systems form by making some basic assumptions.
Question:
a) using these assumptions, how often does a planetary system form in our galaxy? (our galaxy contains at least 100 billion stars.)
b) how often does a planetary system form somewhere in the observable universe, which contains at least 100 billion galaxies? (express in seconds)
Answers
1. Periodicity assumption.
2. Going concern assumption.
3. Historical cost principle.
4. Economic entity assumption.
5. Full disclosure principle.
6. Monetary unit assumption.
Explanation:
1. Periodicity assumption: The economic life of a business can be divided into artificial time periods. It is also known as the Time period assumption.
2. Going concern assumption: The business will continue in operation long enough to carry out its existing objectives.
3. Historical cost principle: Assets should be recorded at their acquisition cost.
4. Economic entity assumption: Economic events can be identified with a particular unit of accountability.
5. Full disclosure principle: Circumstances and events that could make a difference to financial statement users should be disclosed.
6. Monetary unit assumption: Only transaction data that can be expressed in terms of money should be included in the accounting records.
Answer with Explanation:
Requirement 1. The economic life of a business can be divided into artificial time periods.
It is a periodicity assumption which says that the business time periods can be used to prepare financial statement as per the need of the management or other organization to make meaningful decisions.
Requirement 2. The business will continue in operation long enough to carry out its existing objectives.
It is going concern assumption which says that the company will continue its business for foreseeable future and thus the financial reporting exists. If this assumption wasn't present then the financial reporting would had only included "How to prepare financial statements on breakup basis?". Which is the situation when the company goes bankrupt and we have to prepare in breakup basis which says that the business will not continue for the foreseeable future.
Requirement 3. Assets should be recorded at their cost.
It is based on Historical cost principle which says that the contracts formed and the prices agreed would be incorporated in the financial reporting.
Requirement 4. Economic events can be identified with a particular unit of accountability.
It is Economic entity assumption which says that every stakeholder is an entity. For example, engineer, schools, leather company, Honda company, Gucci, Boss inc, etc are the examples of economic entity.
Requirement 5. Circumstances and events that make a difference to financial statement users should be disclosed.
It is talking about Disclosure principle which says that the circumstances and events that has potential to alter the decision making of the user of financial statement, must be disclosed in notes to financial statements.
Requirement 6. Only transaction data that can be expressed in terms of money should be included in the accounting records.
The statement is clear reflection of Monetary Unit assumption which says that the dealings of company that can be measured in financial terms can only be recorded in the books of accounts.
c. observable artifacts
Explanation:
Observable artifacts are part of the basis of an organization, they dicatate the narrative of how a business will conduct itself and its members now and in the future in the way of doing business, in how it relates to other entities and how it treats its clients, employees and providors, they are the more visible way in which an organizational culture can be observed.
The correct answer is c. observable artifacts
Explanation:
Organizational culture refers to the visions, values, norms and hierarchies that lie within each company or organization and gives them a direction as how to operate and make decisions. It is formed by three layers: observable artifacts, esposed values and basic assumptions.
Observable artifacts refer to the organization's behaviors, beliefs and attitudes and reflects what it considers meaningful and important. Some examples include: style, written mission statement and values, myths and stories, rituals and practices.
There are several practices within traditional classrooms that are inconsistent with new interdisciplinary assumptions of learning. One of them is the vertical organization of the activities and tasks, the teacher is the one who makes the rules and gives the instructions, the student plays a pasive role in his or her own learning, limiting his participation to answer questions and follow tasks. This practice is inconsistent with the assumption that learning comes from the learner and that he must play a more active rol in his learning process and in the classroom.
Another one is the memorization of definitions and concepts as a proof that the student has learned something. There isn't an intention for the student to have a deep conceptual knowledge and to associate new concepts with ones he already has, instead he is only asked to memorize them.