Jonas Wilkes has struggled for many years with tight finances at home. Throughout school and college, he worked really hard, earned the best grades, and prepared himself for a better life
By a better life, he meant a house in the uptown Wellington Road and a membership in the Diamond District Club where he envisions himself playing golf on weekends. The residents of Wellington Road and the members of Diamond District Club serve as a(n) ________ for him.
A) nominal group
B) organizational group
C) control group
D) intervention group
E) reference group
E
Explanation: E) Reference groups are groups in which a person is aware of other members, defines himself or herself as a member or would like to be a member, and feels group members are significant to him or her.
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When inventory declines in value below original (historical) cost, and this decline is considered other than temporary, what is the maximum amount that the inventory can be valued at?
a. Sales price b. Net realizable value c. Historical cost d. Net realizable value reduced by a normal profit margin
LLC's are governed by _______ LLC statutes.
Fill in the blank(s) with the appropriate word(s).