Members of the Upper Class Often Marry Each Other, Maintaining

question 39

Multiple Choice

Members of the upper class often marry each other, maintaining the deep pool of social capital available to them. This mate selection practice is called

• A) in-group.
• B) class identity.
• C) endogamy.
• D) class distinction.

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Definitions:

Allowance for Doubtful Accounts

An accounting provision made to accommodate likely losses on accounts receivable due to customers being unable to pay.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditures to the appropriate period for more accurate financial statements.

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered or used but not yet paid for.

Sales

The total amount charged customers for merchandise sold, including cash sales and sales on account.