Statuses Are Distinguished by the Manner in Which We Acquire

question 24

Multiple Choice

Statuses are distinguished by the manner in which we acquire them. A(n) __________ status is a social position conferred at birth or received involuntarily later in life, based on attributes over which the individual has little or no control, such as race/ethnicity, age, and gender.

• A)achieved
• B)central
• C)ascribed
• D)universal

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Definitions:

Operating Costs

Expenses associated with the day-to-day functions of a business, excluding costs related to production.

Straight-line Depreciation

A technique for distributing the expense of a physical asset evenly over its lifespan in yearly amounts.

Spare Parts

Components kept on hand for the purpose of replacing failed or worn-out parts in order to maintain the functioning of machinery or equipment.

Equivalent Annual Cost

A financial analysis tool used to compare the cost-effectiveness of two or more investment projects with differing lifespans by calculating the annual cost of each project over its life.