Which of the Following Is a Social Institution Founded on a Recognized

question 116

Multiple Choice

Which of the following is a social institution founded on a recognized set of procedures for implementing and achieving the goals of a group?

• A) political action committee
• B) interest group
• C) elite group
• D) political system

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Definitions:

Credits

Entries in accounting that increase liabilities or equity, or decrease assets, representing the opposite of debits.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate revenue and expenses to the period in which they actually occurred.

Accounts

Records within an accounting system that are used to store and summarize transactions related to specific assets, liabilities, equity, revenue, and expenses.