During the 17th, 18th, and 19th Centuries, European and American

question 42

Multiple Choice

During the 17th, 18th, and 19th centuries, European and American whalers killed tens of thousands of whales in Arctic waters for commercial purposes, with little effective resistance from environmental or animal rights groups. Today, whaling is a highly monitored activity subject to quotas. This change in reaction to whaling suggests that

• A)behavior considered deviant at one time and place may not be considered deviant at another.
• B)people have consistent ideas about what is considered deviant.
• C)something is deviant only if it is considered deviant across time and place.
• D)Native people who still whale should be punished.

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Definitions:

Cash Basis

An accounting method where revenues and expenses are recorded when cash is received or paid, respectively.

External Reporting

The process of providing financial statements and other pertinent information to outside entities, such as investors, creditors, and regulatory agencies.

Profit Margin

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold, showing how much profit a company makes on sales.

Net Income

The sum a company holds as profit once it has subtracted expenses and taxes from its aggregate revenue.