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Jarvis Company experienced the following events during 2012 (all were cash events):
1. issued a note
2. purchased land
3. provided services to customers
4. repaid part of the note in event 1
5. paid operating expenses
6. paid a dividend to stockholders
7. issued common stock
Required:
Indicate how each of these events affects the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for no effect under each of the components of the accounting equation. The first is done for you as an example.
Prescriptive Norms
Social rules that dictate what behavior is expected or appropriate within a community or society.
Proscriptive Norms
Social rules that dictate what behaviors are forbidden or discouraged within a society or group.
Ethnomethodology
A sociological approach that studies the way people make sense of their everyday world, emphasizing the methods and practices individuals use to constitute their social realities.
Rational Choice Theory
A framework for understanding and modeling social and economic behavior based on the assumption that individuals act rationally, making decisions to maximize their personal benefit.
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