Which of the Following Terms Is Defined as the System

question 58

Multiple Choice

Which of the following terms is defined as the system of meaning and power that cultures create to determine who is related to whom and to define their mutual expectations, rights, and responsibilities?

• A) family
• B) heredity
• C) descent
• D) kinship

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Definitions:

Average Collection Period

How long, on average, it takes for a business to get paid by its customers.

Days' Sales In Inventory

A financial measure indicating the average time in days that a company takes to turn its inventory into sales.

Total Current Assets

The sum of all assets that are expected to be converted into cash, sold, or consumed within one year or during the normal operation cycle of the business, whichever is longer.

Receivable Turnover

A financial ratio that measures how efficiently a company collects on its outstanding accounts receivable.