Explicit and Implicit Rules That Reflect Social Expectations and Influence

question 172

Multiple Choice

Explicit and implicit rules that reflect social expectations and influence the way people behave in social situations are called ______.

• A) social norms
• B) social mores
• C) social values
• D) laws

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Definitions:

Revenue Recognition Principle

An accounting principle that outlines the specific conditions under which revenue is recognized.

Unearned Rent Revenue

Income received by a company for rent that has not yet been earned because the service period has not occurred.

Unearned Service Revenue

Income received by a company for services yet to be performed; considered a liability until the service is delivered.