Norms Are ________

question 5

Multiple Choice

Norms are ________.

• A)the behaviors that groups use to establish their relationship with other groups
• B)the rules within a group that indicate how its members should or should not behave
• C)one's position or rank within a group
• D)the behaviors that individuals who occupy specific positions within a group are expected to perform
• E)the rules that specify how a group is to become cohesive

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Definitions:

Contingent Liability

A potential liability that has arisen as the result of a past event; it is not a definitive liability until some future event occurs.

Balance Sheet

A financial statement that displays a company's financial position at a specific point in time, listing assets, liabilities, and equity.

Probable

Likely to occur or to be true, often used in accounting to describe the likelihood of a future event affecting financial statements.

Working Capital

The measure of a company's operational liquidity, calculated as current assets minus current liabilities.