Functionalism Assumes That There Are Certain Minimum __________ Needs, as Well

question 37

Multiple Choice

Functionalism assumes that there are certain minimum __________ needs, as well as social and psychological needs that must be satisfied if individuals and society are to __________.

• A) financial; get rich
• B) biological; survive
• C) cultural; be remembered
• D) spiritual; attain a state of grace

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Definitions:

Net Price Method

A pricing strategy taking into account all available discounts and rebates to determine the final purchase price.

Purchase Discounts Taken

Reductions in the purchase price of goods or services, realized for paying early or within a specified period.

Credit Terms

The conditions under which credit will be extended to a customer, including the repayment time frame and any interest or fees that apply.

Periodic System

An inventory valuation method where physical inventory counts are done periodically to determine the cost of goods sold and the ending inventory level.