Why Is a Scientific Approach Preferable to Reliance on Folk

question 86

Multiple Choice

Why is a scientific approach preferable to reliance on folk wisdom and common sense?

• A) Common sense approaches focus on the situation and not on personality.
• B) Common sense puts too much emphasis on personality.
• C) Nothing useful can be learned from journalists, philosophers, or social critics.
• D) Folk wisdom and common sense are filled with contradictions.
• E) Science has tested and debunked most folk wisdom.

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Definitions:

Income Tax Expense

The amount of income tax a company is obligated to pay to the government, based on its taxable income.

Cash Basis

An accounting method where revenues and expenses are recorded when cash is received or paid, rather than when they are incurred.

Statement of Cash Flows

A financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company.

Operating Activities

Business activities related directly to the production, sale, and delivery of a company's products or services, which are reflected in the cash flows from operating activities in the statement of cash flows.