Family Income,social Prestige,and Access to Social Resources Are Major Indications

question 2

Multiple Choice

Family income,social prestige,and access to social resources are major indications of

• A)culture.
• B)social class.
• C)educational achievement.
• D)ethnicity.

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Definitions:

Amortization Assumption

The accounting practice of gradually writing off the initial cost of an intangible asset over its useful life.

Interest Expense

The cost incurred by an entity for borrowed funds; interest payments made on any form of debt over a given period.

Effective Interest Method

An accounting practice used to allocate loan discounts or premiums over the life of the loan, reflecting the financial interest rate more accurately.

Discount Amortization

The process of gradually reducing the discount on bonds payable or notes payable over the life of the debt.