Which of the Following Statements Is a Good Example of Cultural

question 79

Multiple Choice

Which of the following statements is a good example of cultural lag?

• A)gaining the ability to modify genetic patterns in humans before understanding the possible social consequences of doing so
• B)a slowing in the rate of invention in the computer industry
• C)older people trying to make younger people respect tradition
• D)virtual culture replacing traditional culture

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Definitions:

Equity Method

An accounting technique used to assess the profits earned by a company through its investment in another company, recognizing income or loss in proportion to its ownership share.

Consolidated Current Liabilities

The combined total of all short-term financial obligations and debts of a parent company and its subsidiaries, due within one year.

Excess Consideration

The amount paid by an acquiring company over and above the fair value of the net identifiable assets of the acquired company, often recorded as goodwill.

Underlying Book Value

The net asset value of a company calculated by total assets minus intangible assets (patents, goodwill) and liabilities.