In Early Hunting-And-Gathering Groups,what Was the Main Organizing Principle

question 15

Multiple Choice

In early hunting-and-gathering groups,what was the main organizing principle?

• A)state
• B)kingdom
• C)chiefdom
• D)kinship

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Definitions:

Five-Step Model

A framework used in accounting to recognize revenue, involving identifying the contract, the performance obligations, the transaction price, allocation of price, and revenue recognition as performance obligations are satisfied.

Refund Liability

An obligation of the seller to return the funds to a buyer due to returns, cancellations, or dissatisfaction with goods or services sold.

Return Of Goods

The process by which customers return purchased goods to the seller due to defects, dissatisfaction, or other reasons, affecting inventory and sales revenue.

Inventory

The complete quantity of products and materials in a company's possession intended for future sale or manufacturing.