The Garrets Are a Lower-Class Family and Have Four Children

question 31

Multiple Choice

The Garrets are a lower-class family and have four children.The Devlins are middle-class family that has only two children.The fact that the Garrets have more children is an example of:

• A) differential fertility.
• B) strata ascription.
• C) status achievement.
• D) distinguishing effects.

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Definitions:

Controls

Procedures or policies implemented by a company to safeguard its assets, enhance the reliability of its accounting records, increase efficiency, and ensure compliance with laws and regulations.

NSF Check

a check that has been returned by a bank because the account it was drawn on does not have sufficient funds.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented in a bank statement to find discrepancies.

Internal Control

A system of policies and procedures implemented by an entity to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.