Normative Influence Operates When People Conform to Social Norms Because

question 61

Multiple Choice

Normative influence operates when people conform to social norms because of

• A)hope of positive social consequences.
• B)fear of violent consequences.
• C)fear of negative social consequences.
• D)hope of monetary gain.

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Definitions:

Current Liability

A financial obligation a company is expected to settle within one fiscal year or its current operating cycle, whichever is longer.

Long-term Debt

Loans and financial obligations lasting more than one year that a company owes to external parties.

Contingent Liability

A potential liability that may become an actual liability in the future.

Warranty Expense

Costs associated with the obligation to repair or replace a product due to defects for a specified period.