Xacc/280 Week 4 Test

The U.S. banking system creates money by allocating the excess reserves from a deposit at creating a loan from the Home Bank. In other words, say I deposit a $100.00 in Bank #1, where Bank #1 is able to lend out some of my money to another customer. So, Bank #1by law needs to hold 10% of what I deposited which is known as required reserves. Therefore, the required reserves of my $100 is $10. So, Bank#1 is able to provide a $90 loan to another customer, which we will name Moe, from my $100. Then, Moe will turn around and spend that money which will eventually make its way to another bank, which we will call Bank #2. So, Bank #2 will be able to loan out $81 of Moe’s $90 yet, Bank #2 is still required to keep 10% which is required reserves, which is $9 of the $90.

This scenario demonstrates the motive to purchase personal expenses and hide small revenues and this ultimately results in a higher expense value, gaining a favourable tax return. Examples within the scenario were buying a sports car, or paying for a trip to Hawaii which are clear violations of the Business Entity Concept. This principles states that a business must be considered a separate entity from the person, and all of its financial matters should be recorded separately from one’s own. This act is seen as an unacceptable behaviour since the business is cheating the government, and keeping the money that could have been used to better the community in addition to violating common accounting standards.

There are four perspectives when it comes to balanced scorecard. First one is learning and growth which means how the information and knowledge are processed and turned into competitive advantage against other companies. Second is about product manufacturing and making sure that all the products are made the same without any defaults. Third one is about customer satisfaction and making sure that customers are happy with product, service and price. Fourth one is about financial performance and making sure that company’s financial data is used properly.

Emory College Science Research Division quotes Howard Gardner, education theorist: “The claim is that there are at least eight different human intelligences. Most intelligence tests look at language or logic or both - those are just two of the intelligences. The other six are musical, spatial, bodily/kinesthetic, interpersonal, intrapersonal, and naturalist” (qtd. in Ainslie). IQ tests contain the ability to distinguish high knowledge in two out of eight intelligences (Ainslie). Therefore, those high IQ scorers show above proficiency in only 25% of all intelligences applicable. Some may argue IQ tests prove value in the two most important of intelligences; however, knowing how to recognize patterns does not correlate to accurately making important life decisions. IQ tests become inefficient in proving overall intelligence due to the fact it can show above proficient ability in only a quarter of all eight

My highest score was 80 which was for Bodily - Kinesthetic which means that I think of self-expression or the precision to achieve a goal. I actually do agree with the statement because I am a person who always has a goal to be perfect and get to the top. Now I do agree with the statements that the Multiple Intelligence Survey did give me my correct answers. As I said about the Bodily - Kinesthetic was about how to always be correct or perfect, but what it said my lowest skills was naturalistic, musical, and logical. This statement is true. None of these things are skills that have ever come naturally to me. My lowest result in this survey was naturalistic, musical, intrapersonal, and logical. My highest score was 80 which was for Bodily -

In “A Rounded Version: The Theory of Multiple Intelligences”, Howard Gardner illustrates how there are a variety of intelligences. Gardner starts off with an example how IQ tests may predict achievement in school but may not predict achievement in life. After finding out certain parts of the brain are responsible for certain functions, such as “Broca’s Area” which is responsible for sentence production, Gardner proposes the existence of multiple intelligences. Multiple studies later led him to propose seven distinct intelligences; Musical, bodily-kinesthetic, logical-mathematical, linguistic, spatial, interpersonal, and intrapersonal. Each intelligence has certain classifications. According to Gardner’s classifications, I realized my intelligences are bodily-kinesthetic, logical-mathematical, and intrapersonal.

The college admissions test fail to capture the true intelligence possessed by students. According to a theory made by Howard Gardner, there are eight distinct intelligences that humans can have. These are the categories revolving around intelligence: Musical-rhythmic, Visual-spatial, Verbal-linguistic, and Logical-mathematical intelligences. Unfortunately, the ACTs and SATs only gauge the student's ability to answer Verbal-linguistic and Logical-mathematical questions. Thus, the other abilities that students do enthrall are not represented well in these tests.

On Multiple Intelligence test I learned about myself that I have quite appropriate scores with regards to intelligence types, the lowest score on bodily-kinaesthetic (22) and the highest score on linguistic (33).

Intelligence tests are inaccurate to measures true ability of a person because genes affect how a person responds to their surroundings, the tests cannot measure the person biological makeup or his true potential for being “smart”.

Albert Einstein once said, “Everybody is a genius. If you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.” Intelligences is the ability to learn facts and skills and apply them. Howard Gardner wrote a book called Intelligences Reframed: Multiple Intelligences for the 21st Century. He wrote this book to help expand the knowledge of professors and everyday people that no matter your IQ and or test scores that you cannot simply judge someone off of a numerical score. People are smart just in different areas bringing different learning styles and intelligence to the table. Gardner studies led him to propose seven possible intelligences. Intrapersonal

Verbal-Linguistic intelligence speaks to an individual’s ability to understand and manipulate words and language. This intelligence is possessed by everyone at the same level and includes reading, writing, speaking and other forms of verbal and written communication. Logical-Mathematical intelligence refers to an individual's ability to do things with data: collect, and organize, analyze and interpret, conclude and predict. Individuals strong in this intelligence see patterns and relationships. These individuals are oriented toward thinking: inductive and deductive logic, numeration, and abstract patterns. Visual-Spatial intelligence refers to the ability to form and manipulate

My top two intelligences were spatial and musical. Spatial refers to intelligence that includes the ability to identify objects accurately, recreate them and identify how they relate to each other. This intelligence is applied through visual means, it does include only vision, it also includes touch and listening as well. On the other hand musical refers to an intelligence that includes the ability to play an instrument or sing, recognizing various tones, patterns, rhythms, beats, and sounds, enjoying and analyzing music, understanding musical structures, and creating melodies and rhythms.

Through the course of Freshman Seminar, I learned what kind of personality I have and which kind of higher intelligence I consist of. After reviewing the results, I found out that my intelligence and personality corresponded to

On the contrary, those people who scored low on one kinds of ability test, were more likely to score badly on others as well. Meanwhile, Spearman also concluded that intelligence is a cognitive ability which could be measured and expressed numerically.

My results from Multiple Intelligences tell me that my linguistic is 67%, logical-mathematical is 31%, visual-spatial is 42%, intrapersonal is 44%, interpersonal is 63%, musical is 81%, bodity-kinesthetic is 50% and naturalistic is 33%.