Status

Privilege
A right or prerogative to perform specific actions that are exclusive to an individual or a group. It often stems from wealth, status, or specific societal structures.
Status
Status refers to the position, class, standing, or rank achieved within society. This can be influenced by various factors such as achievements, financial wealth, education, occupation, or social connections. It is an essential aspect within sociological and economic studies that affects social hierarchies and individual identity.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.