In General, Where Social Inequality Exists, Social Institutions

question 21

Multiple Choice

In general, where social inequality exists, social institutions

• A)favor or increase social inequality.
• B)work against social inequality.
• C)remain neutral.
• D)balance inequality, and attempt to create equality.

---

Definitions:

Equity

The residual interest in the assets of an entity after deducting its liabilities, representing ownership interest in a company.

AASB 121

Refers to the Australian Accounting Standards Board's standard on The Effects of Changes in Foreign Exchange Rates, providing guidance on how to report foreign currency transactions and report the effects of changes in exchange rates.

Monetary Item

Financial assets and liabilities that carry a fixed or determinable amount of money, such as cash, receivables, and payables.

Foreign Exchange Rates

The prices at which one currency can be exchanged for another, influencing international trade and finance.