Informal Normative Institutions

question 142

Multiple Choice

Informal normative institutions

• A) establish standards and propagate principles (UN, professional organizations).
• B) are recognized for their charity work.
• C) use class hierarchy to establish values.
• D) are found in few industrial economies.

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Definitions:

Inventory Purchases

This term is related to the buying of goods and materials by a company that are intended to be sold in the course of business.

Accounts Payable

The amounts a company owes to suppliers or vendors for goods or services received but not yet paid for.

Cash Payment

A transaction in which a payment for goods or services is made using physical currency or through a digital mechanism but representing a direct transfer of funds.

Net Income

The total earnings of a company after deducting all expenses, taxes, and costs from its total revenues, indicating the company's profitability over a particular period.