The Process of Strong Inference Refers to the Elimination of Competing

question 29

True/False

The process of strong inference refers to the elimination of competing explanations through falsification.

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Definitions:

Discrepancy

An inconsistency or difference that arises in the course of comparing two sets of figures or facts, often leading to questions that require resolution.

Cash Short And Over

An account that records discrepancies between actual cash received and the expected amount, either indicating missing funds (short) or excess funds (over).

Journal Entry

A journal entry is a record of a financial transaction in the accounting books, indicating the accounts and amounts to be debited and credited.

Outstanding Checks

Checks that have been written and recorded in the account ledger but not yet cleared or cashed by the bank.