As a Junior Accountant for the Waterford Crystal Co

question 15

Multiple Choice

As a junior accountant for the Waterford Crystal Co. of New Bedford, Connecticut, you’ve just completed an intensive four-week initial training session. During your first week at Waterford, you’ll be applying many of the concepts that you worked so hard to understand over the course of four grueling years of college accounting classes: sales revenues, cost of goods sold, operating and administrative costs, taxes, interest expenses, and net profit. In week two, you’ll get some actual experience working with current and long-term assets, current and long-term liabilities, and owner’s equity. In your third week, you’ll be keeping track of all cash coming into and going out of the business.
-Your balance sheet will report Waterford's _____.

• A)assets
• B)liabilities
• C)owner's equity
• D)all of these

---

Definitions:

Durkheim

A founding figure in sociology, known for his theory of social facts and his studies on the social basis of human behavior, religion, and the division of labor in society.

Weber

Max Weber, a German sociologist, philosopher, and political economist known for his theories on bureaucracy, social stratification, and the sociology of religion.

Macrosociology

The study of large-scale societal structures and processes, focusing on social systems and populations at a high level of abstraction.

Theoretical Perspectives

Frameworks or sets of ideas through which social phenomena are analyzed and interpreted.