"The Display of Wealth for Social Prestige

question 117

Multiple Choice

"The display of wealth for social prestige." What is the term for this?

• A) public consumption
• B) conspicuous consumption
• C) redistribution
• D) public display

---

Definitions:

Equity Method

An accounting technique used to record investments in associated companies, where the investment is initially recorded at cost and subsequently adjusted for the investor's share of the investee's net profit or loss.

Proportionately Adjusted Retained Earnings

Retained earnings adjusted in proportion to ownership interest in a company or investment.

Equity Method

A method of accounting for investments reflecting the investor's share of the earnings or losses of the investee in the investor's financial statements.

Contractual Agreement

A legally binding agreement between two or more parties that outlines the terms and conditions of an arrangement.