Which of the Following Are Key Social Institutions That Are

question 45

Multiple Choice

Which of the following are key social institutions that are the most likely to influence the business environment of a country?

• A)Economic system
• B)Level of industrialization
• C)Religion
• D)All of the above

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Definitions:

Prepaid Insurance

Prepaid insurance is the portion of insurance premiums that has been paid in advance for coverage over future periods, and is classified as a current asset on the balance sheet.

Unearned Revenue

Money received by a business for services or products yet to be delivered or provided; considered a liability until the service or product is delivered.

Utilities Expense

The cost incurred by a business for the consumption of utilities services like electricity, gas, water, and sewage.

Accounts Payable

Liability accounts representing the amounts owed by a company to its suppliers or creditors for goods and services received.