Excel Vehicles, Inc

question 49

Multiple Choice

Excel Vehicles, Inc., makes and sells automobiles to auto dealers, including Fine Auto Sales. Fine sells the cars to consumers and businesses.
-Refer to Fact Pattern 24-1.Ira,a police officer,buys an Excel from Fine to drive in his off-duty hours.Ira's Excel is

• A)a consumer good.
• B)an accession.
• C)equipment.
• D)inventory.

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Definitions:

Social Mobility

The ability of individuals or families to move within or between social strata in a society, impacting their economic and social position.

Pecking Order

A hierarchy of status seen among members of a group of people or animals, often dictated by power, rank, or social standing.

Social Class Concept

A categorization of individuals and groups based on various factors including wealth, occupation, and education, reflecting their position within a societal hierarchy.

Achieved Status

A social position that a person earns or chooses, reflecting personal skills, abilities, and efforts.