Jay Belongs to a Hindu Subgroup That Was Formed Recently

question 4

Multiple Choice

Jay belongs to a Hindu subgroup that was formed recently. The subgroup acknowledges the presence of other religious groups and agrees that other groups also possess the truth. In this case, the religious subgroup that Jay belongs to can be classified as a _____ of Hinduism.

• A) cult
• B) sect
• C) denomination
• D) symbol
• E) faction

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Definitions:

Variable Interest

Interest that can change over the lifetime of a loan, credit line, or other form of financing, usually linked to a fluctuating benchmark rate.

Loss Contingencies

Potential losses that may occur in the future and are recorded in financial statements if they are probable and can be reasonably estimated.

Accrue

The process of recording expenses and revenues that have been incurred or earned, respectively, but not yet received or paid, in order to reflect the true financial position of an entity.

Estimated Loss

An anticipated loss that a company might suffer due to various risks and uncertainties, and which is accounted for in advance.