On a Work Sheet, the Amount Entered in the Credit

question 6

Multiple Choice

On a work sheet, the amount entered in the Credit column of the Balance Sheet to balance the debits and credits is $56,000. This represents

• A) an error of $28,000 in balancing the accounts.
• B) a net income of $56,000.
• C) a net loss of $56,000.
• D) accumulated depreciation and other expenses.

Understand the critique of functionalist explanations of inequality, including considerations of power, prestige, and motivation.

Compare and contrast the views of Talcott Parsons and Robert K. Merton on structural functionalism.

Analyze the critiques and limitations of systems theory and structural functionalism.

Understand the concepts of teleology and tautology in the context of sociological theories.

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Definitions:

Accrual Basis

An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.

Direct Method

A way of reporting cash flows from operating activities by showing major classes of gross cash receipts and payments.

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding direct material and labor costs.