A _________ Is a Category of People Who Are Recognized

question 45

Multiple Choice

A _________ is a category of people who are recognized as distinct based on the basis of a social or cultural criteria such as religion or nationality.

• A) Racial group
• B) Ethnic group
• C) Minority group
• D) Majority group

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Definitions:

Useful Lives

The estimated period during which an asset is expected to be usable for the purpose for which it was acquired.

Revaluation Surplus

An increase in the carrying amount of an asset to its fair value, exceeding its previously recorded nominal value, recognized directly in equity.

IFRS

International Financial Reporting Standards, which are global accounting standards for preparing financial statements.

Owners' Equity

The residual interest in the assets of a company after deducting its liabilities, representing the owner's claim against the company's assets.