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Table 1-1
Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses for Spiffy's Garage at December 31, 2019, the end of its first year of operations. The owner, Spiffy Sloan, invested $22,600 at the beginning of the year and withdrew $5,000 during the year for personal use.
-Refer to Table 1-1. Total assets at December 31, 2019, were:
Differentiation
The process of becoming or making something different, in sociology, it refers to the development of increasingly specialized roles and institutions within a society.
Peter Blau's Exchange Theory
A sociological perspective that views social interactions as transactions in which individuals seek to maximize their rewards and minimize their costs.
Legitimization
The process of making something acceptable, justified, or seen as legitimate, often in a social, legal, or moral sense.
Power Differentials
The disparities in power between individuals or groups in a social hierarchy or structure.
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