Which of the Following Statements Is True

question 11

Multiple Choice

Which of the following statements is true?

• A) Race is a biological fact, not a social concept.
• B) Race and ethnicity are socially constructed categories.
• C) Ethnicity and race are interchangeable terms.
• D) Ethnicity is a biological fact, not a social concept.

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Definitions:

Fair Value Adjustment

An adjustment made to the carrying value of an asset or liability to reflect its value at current market conditions.

Unrealized Gain

A profit that exists on paper resulting from an investment that has increased in value but has not yet been sold for cash.

Other Comprehensive Income

Revenues, expenses, gains, and losses not included in net income, but affecting shareholders' equity, like foreign currency translation adjustments.

Exposure Draft

A document issued by accounting or regulatory bodies for public comment, outlining proposed changes to accounting standards.