The Tendency of People to Be in the Same Social

question 52

Multiple Choice

The tendency of people to be in the same social class throughout their lives is called

• A) social mobility.
• B) consistency.
• C) class persistence.
• D) class consciousness.

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Definitions:

FIFO System

First In, First Out, an inventory valuation method where the costs of the oldest inventory items are the first to be expensed.

Goodwill

The intangible asset that arises when a company acquires another business for more than the fair value of its net assets.

Impairment

The permanent reduction in the value of a company's asset, typically when the asset's market value drops below its recorded book value.

Dividends

Earnings distributed by a company to its shareholders, usually in the form of cash or additional shares.